FX.co ★ GOLD Intraday Technical analysis

Gold is approaching the upper limit of its medium-term bullish channel in 1627 and seems to start a decline. However a break of these levels would free up significant potential and initiate a 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 1627 with a 1st objective of 1637, then 1640. A break in 1625 would invalidate this scenario.