FX.co ★ GOLD Intraday Technical Analysis

Gold is currently testing the upper limit of its medium term bearish channel at 1,655 and seems to initiate a decline. However, a break through these levels will free up significant potential and initiate a bullish trend.
Amid the recent events, the market will indicate a bullish opportunity as soon as gold has punctured its resistance at 1,655 with the 1st target at 1,665 and then at 1,670. A break through 1,653 will change this scenario.