Friday, October 7, 2011

GOLD Intraday Technical analysis 2011-10-07

Gold is approaching the upper limit of its  medium term trading range in 1676 suggesting a decline. However a break of these levels would free up significant potential and initiate a new trend.
According to previous events, the market indicates a bullish opportunity as soon as the gold will have broken its resistance in 1676 with a 1st objective of 1690, then 1695. A break in 1674 would invalidate this scenario.

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