Monday, October 17, 2011

GOLD Intraday Technical analysis 2011-10-17

Gold is currently testing the upper limit of its medium term bullish channel in 1700 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 1700 with a 1st objective of 1720, then 1724. A break in 1697 would invalidate this scenario.

No comments:

Post a Comment

Related Posts Plugin for WordPress, Blogger...