XAU/USD (GOLD) Technical Analysis

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February 7, 2013 1:35 AM EST

Forextribe
Updated the:
02/06/2013
XAU/USD (Gold) : Medium term bearish channel

Sentiment :

1675

1670

--- Follow up analysis ---
For several days, movements made on the pairXAU/USD (Gold) are erratic.
The price seems now to move above a short term bullish slant (purple segment on the 1h chart).

I advise traders to trade the pair outside the range 1670/1675 points:

- Only long positions above 1675 points. Upward breaks of 1680 and 1685 would then offer new buy signals for an extension of the bullish movement.

- Only short positions below 1670 points. Attention to the short term bullish slant which can still act as support. Downward breaks of 1665 and 1660 points would then offer new sell signals for a take up of the downtrend.

Full analysis
Analysis published by Vincent, the 02/06/2013 at 10h00 GMT+2

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