Friday, January 20, 2012
GOLD Intraday Technical Analysis 2012-01-20
Gold is currently testing the intermediate support of its medium term bullish channel at 1,650 suggesting a rebound. However, a break of these levels would entail a return to the lower limit of this one to 1,640.
Technical indicators do not provide clear signals but until the support is not broken the assumption of a rebound is most likely.
According to previous events, the market indicates a bullish opportunity at the levels of 1,650 with the 1st objective of 1,660, then at 1,665. A break of 1,648 will invalidate this scenario.