Wednesday, November 16, 2011

GOLD Intraday Technical analysis 2011-11-16

Gold approaching to the upper limit of its medium-term bearish channel in 1790 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 1790 with a 1st objective of 1800, then 1805. A break in 1788 would invalidate this scenario.

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