|XAU/USD : 1700 points are giving support, take up of the bullish trend?|
--- Follow up analysis ---
The gold felt strongly this night on the support at 1700 points and is currently trying to rebound with difficulties. The medium term bullish channel has now no extension (dotted purple lines) towards this level of support.
We advise to trade only short positions as far as 1720 points is resistance. A stay below 1710 points will comfort our bearish feeling. The breakout of 1700 will give a new sell signal and should open the way towards 1675 points.
In case of return above 1720 points, we will wait the breakout of 1730 points to advise long positions.
Analysis published by Vincent, the 12/04/2012 at 09h30 GMT+1
|Complete sheet of the pair XAU/USD (Gold) - Previous XAU/USD (Gold) Analysis|
|Chart of the pair XAU/USD (Gold)- Timeframe 4H|
|Chart of the pair XAU/USD (Gold)- Timeframe 1H|
|XAU/USD (Gold) Live Chart - Timeframe : 1h|
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