XAU/USD (GOLD) Technical Analysis
February 19, 2013 2:18 AM EST
|XAU/USD (Gold) : Medium term bearish channel|
--- Follow up analysis ---
At the end of last week, the pair has started a powerful bearish rally, allowing the price to reach the support at 1600 points. The price just made a correction of this rally and made a pullback on 1620 points.
I advise traders to trade only short positions as far as the price will be located below 1630 points.
In case of return above 1630 points, I would then advise traders to wait for a breakout of 1650 points before trading long positions.
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