FX.co ★ GOLD Intraday Technical Analysis

The gold is currently testing the upper limit of its medium term bearish channel at 1609 and seems to start a decline. However, breaking through these levels will free significant potential and initiate a bullish trend.
According to previous events, the market indicates a bullish opportunity as soon as the gold will have broken its resistance at 1609 with the 1st target at 1620, then at 1625. A break at 1607 will cancel such scenario.