XAU/USD (GOLD) Technical Analysis

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January 25, 2013 1:52 AM EST

Forextribe
Updated the:
01/24/2013
XAU/USD (Gold) : Medium term bearish channel

Sentiment :

1680

1680

--- Follow up analysis ---
The pair XAU/USD (Gold) has validated yesterday an output of its short-term downtrend channel (brown segments). The price is back on the support at 1680 points.
The pair is still far away from its previous medium term downtrend (orange lines).

I advise traders to trade Gold according to the key level at 1680 points:

- Only short positions if 1680 points is broken. Downward breaks of 1670 and then 1660 points will then offer new sell signals for an extension of the downtrend.

- Only long positions above 1680 points. Upward Breaks of 1680 and 1700 points will give new buy signals for an extension of the bullish movement.

Full analysis
Analysis published by Vincent, the 01/24/2013 at 09h45 GMT+2

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