Gold is currently testing the upper limit of its medium term bullish channel at 1,672 and seems to initiate a decline. However, a puncture of these levels will free up significant potential and make a bullish trend more violent.
Technical indicators don't give clear signals but are approaching to the overbought zone suggesting a decline.
According to previous events, the market indicates a bearish opportunity at the levels of 1,672 with the 1st objective of 1,660, then of 1,655. A break through 1,675 will change this scenario.
