10.01.201210:26 Forex Analysis & Reviews: GOLD Intraday Technical analysis

Long-term review

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The gold is currently testing the upper limit of its medium term bearish channel in 1625 and seems to initiate a decline. However a break of these levels would free up significant potential and initiate a bullish trend.

According to previous events, the market indicates a bullish opportunity as soon as the gold will have broken its resistance in 1625 with a 1st objective of 1635, then 1640. A break in 1623 would invalidate this scenario.

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