Gold is approaching to the upper limit of its medium term bearish channel to 1417 suggesting a decline in the short term. However a break of these levels would free up significant potential and begin an upward trend.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1417 with a 1st objective of 1427, then 1435. A break in 1415 would invalidate this scenario.
