Monday, January 31, 2011

Gold Price | Technical Analysis | 31 January 2011

Gold Price | Technical Analysis | 31 January 2011

Gold is currently testing the upper limit of its medium-term bearish channel at 1347. A break of these levels it would free up significant potential and begin an upward trend.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1347 with a 1st objective of 1358, then 1364. A break in 1345 would invalidate this scenario.


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

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