Wednesday, November 2, 2011

GOLD Intraday Technical analysis 2011-11-02

Gold is currently testing the upper limit of its medium-term bearish channel in 1726 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 1726 with a 1st objective of 1736, then 1739. A break in 1724 would invalidate this scenario.

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