Updated the:
05/11/2012
XAU/USD (Gold) Technical Analysis comments :

Sentiment :
sentiment
1640
sentiment
1620
sentiment
The pair XAU/USD made yesterday a pullback on 1600 points as resistance and is now going to test again the support at 1580 points.
The pair continues to move on the lower band of its medium term bearish channel (purple lines).
All indicators are bearish.
We maintain to trade only short positions as far as 1620 points is resistance.
The breakout of 1580 will both a new sell signal and open the way towards 1550 points.
In case of return above 1620 points, we will wait the breakout of 1640 to advise long positions.
Complete sheet of the pair XAU/USD (Gold) - Previous XAU/USD (Gold) Analysis
Chart of the pair XAU/USD (Gold)- Timeframe 4H - Zoom in :
XAU/USD
 
Chart of the pair XAU/USD (Gold)- Timeframe 4H - Zoom out:
XAU/USD
XAU/USD (Gold) Live Chart - Timeframe : 1h
Chart