FX.co ★ GOLD Intraday Technical analysis

Gold is currently testing the intermediate resistance of its medium term bearish channel to 1407 suggesting a decline in the short term. A break of these levels would reach the upper limit of its channel in 1424.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1407 with a 1st objective of 1420, then 1424. A break in 1405 would invalidate this scenario.