Tuesday, October 4, 2011

GOLD Intraday Technical analysis 2011-10-04

Gold approaching to the upper limit of its medium term bullish channel  in 1778 suggesting a decline. However a break of these levels would allow it to 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 1778 with a 1st objective of 1790, then 1795. A break in 1776 would invalidate this scenario.

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