Gold is moving in a medium-term trading range and is presently testing its upper limit in the point 1715 showing the possibility of a decline. However, if these levels are broken down, the significant potential will vbe revealed initiating a bullish trend.
Technical indicators provide signals for SELL-deals confirming the prospect decline. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the beginning of a violent movement.
Considering the previous situation, the market indicates a bullish opportunity as soon as the gold will has broken its resistance level 1715 with the 1725 and 1730 seen as its first objectives. A breakdown of the 1712 level will cancel this scenario.
