The gold came to test the upper limit of its bullish channel and fell. A return on the intermediate support of this one at 1352 is feasible in the short term.
According to previous events, the market indicates a bullish opportunity on the levels of 1352 with a 1st objective of 1367, then 1372. A break in 1350 would invalidate this scenario.
by Albert Fitoussi, Analytical expert - InstaForex © 2007-2011
more Gold Technical Analysis