FX.co ★ GOLD Intraday Technical analysis

Gold is currently testing the upper limit of its medium term trading range at 1506 suggesting a decline. 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 gold will have broken its resistance in 1506 with a 1st objective of 1516, then 1521. A break in 1504 would invalidate this scenario.