Gold approaches the upper limit of its medium-term bullish channel to 1557 suggesting a decline. However a break of these levels would allow it to initiate a bullish trend more violent.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1557 with a 1st objective of 1567, then 1570. A break in 1555 would invalidate this scenario.
