23.05.201109:33 Forex Analysis & Reviews: GOLD Intraday Technical analysis

Long-term review

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Gold is currently testing the upper limit of its medium term bearish channel at 1519 suggesting a decline in the short term. However a break of these levels would free up significant potential and initiate a new trend.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1519 with a 1st objective of 1529, then 1532. A break in 1517 would invalidate this scenario.

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