The gold came to test its short term horizontal resistance at 1368. A break of these levels would reach the upper limit of the bullish channel at 1377.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1368 with a 1st objective of 1377, then 1380. A break in 1366 would invalidate this scenario.
by Albert Fitoussi, Analytical expert - InstaForex © 2007-2011
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