08.12.201109:21 Forex Analysis & Reviews: GOLD Intraday Technical analysis

Long-term review

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The gold is currently testing the intermediate resistance of its medium term bearish channel in 1740 suggesting a decline. However a break of these levels would allow it to reach the upper limit of its channel to 1756.

According to previous events, the market indicates a bullish opportunity as soon as the gold will have broken its resistance in 1740 with a 1st objective of 1750, then 1756. A break in 1737 would invalidate this scenario.

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