Gold is approaching the intermediate resistance of its medium term bullish channel to 1479 suggesting a decline in the short term. However a break of these levels would reach the upper limit of this one in 1489.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1479 with a 1st objective of 1489, then 1492. A break in 1477 would invalidate this scenario.
