FX.co ★ GOLD Intraday Technical analysis

Gold is currently testing the upper limit of its medium-term bullish channel at 1533 and seems to initiate a decline. However a break of these levels would free up significant potential and establish a bullish trend more violent.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1533 with a 1st objective of 1543, then 1545. A break in 1531 would invalidate this scenario.