FX.co ★ GOLD Intraday Technical analysis

Gold is approaching the upper limit of its medium term bearish channel to 1504 suggesting a decline in the short term. However a break of these levels would free up significant potential and begin a rising trend.

According to previous events, the market indicates a bullish opportunity as soon as the gold will have broken its resistance in 1504 with a 1st objective of 1514, then 1520. A break in 1502 would invalidate this scenario.