FX.co ★ GOLD Intraday Technical analysis

The gold is currently testing the upper limit of its medium term bearish channel in 1660 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 1660 with a 1st objective of 1670, then 1675. A break in 1658 would invalidate this scenario.