XAU/USD (GOLD) Technical Analysis
February 7, 2013 1:35 AM EST
|XAU/USD (Gold) : Medium term bearish channel|
--- Follow up analysis ---
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.
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