FX.co ★ GOLD Intraday Technical analysis

Gold is currently testing the upper limit of its medium term bearish channel at 1442 and seems to initiate a decline. However a break of these levels would reach the upper limit of its long-term bullish channel to 1477.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1442 with a 1st objective of 1455, then 1458. A break in 1440 would invalidate this scenario.