FX.co ★ GOLD Intraday Technical analysis

Gold is currently testing the upper limit of its medium-term bullish channel in 1596 and seems to initiate a decline. However a break of these levels would free up significant potential and initiate an bullish trend more violent.

According to previous events, the market indicates a bullish opportunity as soon as the gold will have broken its resistance in 1596 with a 1st objective of 1608, then 1612. A break in 1594 would invalidate this scenario.