FX.co ★ GOLD Intraday Technical analysis

Gold is approaching the upper limit of its medium-term bullish channel at 1394 and appears to initiate a withdrawal. However, a breakthrough of this area will make the upward trend more violent.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1394 with a 1st objective of 1405, then 1409. A breakout of 1392 will change the observed situation.