06.07.201111:25 Forex Analysis & Reviews: GOLD Intraday Technical analysis

Long-term review

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Gold is currently testing the intermediate resistance of its medium-term bullish channel in 1517 suggesting a decline. However a break of these levels would allow it to reach the upper limit of the channel to 1558.

According to previous events, the market indicates a bullish opportunity as soon as the gold will have broken its resistance in 1517 with a 1st objective of 1527, then 1530. A break in 1515 would invalidate this scenario.

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