Thursday, November 3, 2011

GOLD Intraday Technical analysis 2011-11-03

The gold approaches to the upper limit of its medium-term bearish channel in 1742 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 1742 with a 1st objective of 1752, then 1755. A break in 1740 would invalidate this scenario.

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