FX.co ★ GOLD Intraday Technical analysis

Gold is currently testing the upper limit of its medium term downtrend channel to 1377 suggesting a decline in the short term. However a break of these levels would free up significant potential.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance at 1377 with a 1st objective of 1386, then 1392. A break of 1375 would invalidate this scenario.