Thursday, November 17, 2011

GOLD Intraday Technical analysis 2011-11-17

The gold approaches to the upper limit of its medium-term bearish channel in 1775 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 1775 with a 1st objective of 1785, then 1790. A break in 1773 would invalidate this scenario.

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