FX.co ★ GOLD Intraday Technical analysis

Gold is approaching the upper limit of its long-term downtrend channel at 1372. A breakout of this area will free a significant potential and begin an upward trend.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate has broken its resistance in 1372 with a 1st objective of 1382, then 1387. A breakthrough of 1370 will invalidate this scenario.