FX.co ★ GOLD Intraday Technical analysis

Gold is approaching the upper limit of its medium term bearish channel to 1423 suggesting a decline in the short term. However a break of these levels would free up significant potential and begin an upward trend.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1423 with a 1st objective of 1440, then 1445. A break in 1420 would invalidate this scenario.