Monday, January 24, 2011

Gold Price | Technical Analysis | 24 January 2011

Gold Price | Technical Analysis | 24 January 2011

Gold has bounced off the lower limit of its medium-term bearish channel and  approaches the intermediate resistance of this one at 1356. A break of these levels would reach the upper limit of its channel at 1370.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1356 with a 1st objective of 1365, then 1370. A break in 1354 would invalidate this scenario.

by Albert Fitoussi, Analytical expert - InstaForex © 2007-2011

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