Gold is currently testing resistance through its medium term bullish channel to 1416 suggesting a decline in the short term. However a break in this area would achieve the upper limit of this one in 1451.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1416 with a 1st objective of 1426, then 1432. A break in 1414 would invalidate this scenario.
