Thursday, August 11, 2011

GOLD (XAU/USD) Intraday Technical Analysis - August 11, 2011

Gold is currently testing the lower limit of its medium term bullish channel in 1775 suggesting a rebound. However a break of these levels would initiate a new trend.

According to previous events, the market indicates a bullish opportunity on the levels of 1775 with a 1st objective of 1798, then 1810. A break in 1772 would invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert

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