Technical analysis
Albert Fitoussi
The gold is currently testing the intermediate resistance of its medium term bearish channel in 1562 suggesting a decline. However a break of these levels would allow it to reach the upper limit of its channel to 1690.
According to previous events, the market indicates a bullish opportunity as soon as the gold will have broken its resistance in 1562 with a 1st objective of 1575, then 1580. A break in 1559 would invalidate this scenario.
http://instaforex.com/forex_analysis/47099/?x=OUE
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