Wednesday, August 3, 2011

GOLD Intraday Technical Analysis - August 3, 2011



Gold is currently testing the upper limit of its medium-term bullish channel in 1663 suggesting a decline. However a break of these levels would initiate a bullish trend more violent.

According to previous events, the market indicates a bearish opportunity on the levels of 1663 with a 1st objective of 1653, then 1650. A break in 1665 would invalidate this scenario.
 

Performed by Albert Fitoussi, Analytical expert

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