The gold is currently testing the upper limit of its medium term bearish channel in 1610 and seems to initiate a decline. However a break of these levels would free up significant potential and initiate a bullish trend.
According to previous events, the market indicates a bullish opportunity as soon as the gold will have broken its resistance in 1610 with a 1st objective of 1620, then 1625. A break in 1608 would invalidate this scenario.
http://instaforex.com/forex_analysis/46837/?x=OUE
http://instaforex.com/forex_analysis/46837/?x=OUE
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