FX.co ★ GOLD Intraday Technical analysis

Gold is currently testing the upper limit of its medium term bearish channel at 1518 suggesting a decline in the short term. However a break of these levels would free up significant potential and initiate a new trend.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1518 with a 1st objective of 1529, then 1532. A break in 1516 would invalidate this scenario.