Gold rebounded on the lower limit of its short-term bullish channel at 1383 and is approaching its resistance to 1390. A break in that area would free up significant potential and reach the upper limit of its channel in 1398.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1390 with a 1st objective of 1398, then 1407. A break in 1388 would invalidate this scenario.
