The gold is currently testing the intermediate resistance of its medium term bullish channel in 1792 suggesting a decline. However a break of these levels would free a large potential and allow it to reach the upper limit of its channel to 1820.
Technical indicators give sellers signals supporting the assumption of a decline . Bollinger bands are much discarded to a result of the strong increase of these days. Stabilization is expected in the short term.
According to previous events, the market indicates a bullish opportunity as soon as the gold will have broken its resistance in 1792 with a 1st objective of 1802, then 1810. A break in 1789 would invalidate this scenario.
