Tuesday, October 18, 2011

GOLD Intraday Technical analysis 2011-10-18

The gold is currently testing the lower limit of its medium term bullish channel in 1665 suggesting a rebound. However a break of these levels would release a large potential of drop and initiate a new trend.
According to previous events, the market indicates a bullish opportunity on the levels of 1665 with a 1st objective of 1680, then 1685. A break in 1662 would invalidate this scenario.

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