Gold is approaching the upper limit of its medium-term bearish channel at 1353. A break of these levels would free up significant potential and begin an upward trend.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1353 with a 1st objective of 1360, then 1365. A break in 1351 would invalidate this scenario.
by Albert Fitoussi, Analytical expert - InstaForex © 2007-2011
more Gold Technical Analysis