FX.co ★ GOLD Intraday Technical analysis

Gold is approaching the upper limit of its medium term bearish channel at 1423 suggesting a decline in the short term. However a break of these levels would free up significant potential and begin an bullish 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 1432, then 1438. A break in 1421 would invalidate this scenario.