FX.co ★ GOLD Intraday Technical analysis

Gold has been testing the resistance level since Friday at 1365 representing the second shoulder of the figure in "head-shoulder". A breakout of this area will invalidate this scenario and release a significant upside potential.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate has broken through its resistance level at 1365 with a 1st objective of 1376, then 1384. A breakout at 1363 will invalidate this scenario.