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January 30, 2013 1:09 AM EST

Forextribe
Updated the:
01/29/2013		 XAU/USD (Gold) : Medium term bearish channel

Sentiment :
sentiment sur la parité AUD/USD
1675
sentiment sur la parité AUD/USD
1670
sentiment sur la parité AUD/USD

--- Follow up analysis ---
The pair XAU/USD (Gold) has continued its bearish rally below its short-term bearish slant (purple line on the 1h chart). The price has validated this night a downward break of this slant and is currently testing the resistance at 1665 points.

I advise traders to trade only short positions as far as the price will be located below 1670 points.
A stay below 1665 points will strengthen our bearish sentiment.
The downside breakout of 1655/50 would offer new sell signals for an extension of the downtrend towards 1640 points or lower if this level is also broken.

In case of return above 1670 points, then I would advise traders to wait for a breakout of 1675 points before trading long positions.

Full analysis
Analysis published by Vincent, the 01/29/2013 at 09h30 GMT+2
- Complete sheet of GOLD - Previous GOLD Analysis -
Chart of GOLD - Timeframe 1H
GOLD Technical Analysis
Chart of the pair GOLD - Timeframe 4H
GOLD Technical Analysis
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