Friday, August 12, 2011

GOLD Intraday Technical Analysis - August 12, 2011

Gold is approaching the upper limit of its short-term bearish channel in 1774 suggesting a decline. However a break of these levels would 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 1774 with a 1st objective of 1787, then 1794. A break in 1772 would invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert

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