Thursday, October 13, 2011

GOLD Intraday Technical analysis 2011-10-13

Gold is currently testing the intermediate resistance of its medium-term bullish channel in 1695 suggesting a decline . However a break of these levels would allow it to reach the upper limit of its channel to 1716.
According to previous events, the market indicates a bullish opportunity as soon as the gold will have broken its resistance in 1695 with a 1st objective of 1710, then 1715. A break in 1692 would invalidate this scenario.

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