The gold is currently testing the intermediate resistance of its medium term bullish channel at 1,675 suggesting a decline. However, a break through these levels will allow it to reach the upper limit of its channel - 1,685.
Technical indicators don't give clear signals but are approaching the overbuy zone suggesting a decline.
According to previous events, the market will indicate a bullish opportunity as soon as the gold will break its resistance at 1,675 with the 1st objective of 1,685, then of 1,688. A break at 1,673 will invalidate this scenario.
