Friday, February 10, 2012

GOLD Intraday Technical analysis 2012-02-10

The gold broke the lower limit of its medium term bullish channel in 1729 leading to an acceleration. A pull back on these levels is expected  before a resumption of bearish.
RSI provide sellers signals supporting the assumption of a decline. Bollinger bands are stabilized showing a more regular volatility.
According to previous events, the market indicates a bearish opportunity on the levels of 1729 with a 1st objective of 1715, then 1710. A break in 1731 would invalidate this scenario.

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