Tuesday, September 27, 2011

GOLD Intraday Technical analysis

Gold is currently testing the upper limit of its medium-term bullish channel in 1650 suggesting a decline . However a break of these levels would free up significant potential and initiate a bullish trend more violent.
According to previous events, the market indicates a bullish opportunity as soon as the gold will have broken its resistance in 1650 with a 1st objective of 1663, then 1668. A break in 1648 would invalidate this scenario.

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