11.05.201110:37 Forex Analysis & Reviews: GOLD Intraday Technical analysis

Long-term review

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Gold is currently testing the upper limit of its short-term bullish channel to 1526 and seems to initiate a decline. However a break of these levels would free up significant potential and reach the upper limit of its medium-term bullish channel to1550.

According to previous events, the market indicates a bullish opportunity as soon as the gold will have broken its resistance in 1526 with a 1st objective of 1540, then 1550. A break in 1523 would invalidate this scenario.

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