Gold is approaching the resistance through its medium-term downtrend channel at 1373. A breakthrough of this area will release a significant potential to reach the upper limit of its channel at 1399.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate has broken out its resistance level at 1373 with a 1st objective of 1384, then 1399. A breach of 1371 will invalidate this scenario.
