FX.co ★ GOLD Intraday Technical analysis

The gold is currently testing the upper limit of its medium term bearish channel in 1627 and seems to initiate a decline. However a break of these levels would free up 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 in 1627 with a 1st objective of 1640, then 1645. A break in 1625 would invalidate this scenario.