Gold approaches the upper limit of its medium-term bullish channel at 1437 suggesting a decline in the short term. However a break of these levels would initiate a more violent upward trend.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1437 with a 1st objective of 1447, then 1453. A break of 1435 would invalidate this scenario.
