Tuesday, September 20, 2011

Gold Intraday Technical analysis

The gold is currently testing the intermediate support of its medium term bearish channel in 1602 suggesting a rebound. However a break of these levels would entail a return to the lower limit of its channel to 1582.

According to previous events, the market indicates a bullish opportunity on the levels of 1602 with a 1st objective of 1620, then 1625. A break in 1600 would invalidate this scenario.

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