XAU/USD (gold) : Take up of the medium term bullish trend
--- Follow up analysis ---
The gold (XAU/USD) has validated yesterday the breakouts of 1740 and 1760 points, giving new buy signals. The price just reach the next resistance at 1780 points.
We continue to advise long positions as far as 1740 points is support. The breakout of 1780 points will give a new buy signal and allow the price to pursuit its bullish rally towards the resistance at 1800 points.
In case of return below 1740 points, we will advise to wait the breakout of 1720 points to trade short positions.
NB: The gold could also be trade according to 1740 points (long above and short below) for traders with a more agressive strategy.
Analysis published by Vincent, the 09/14/2012 at 10h10 GMT+2
Chart of the pair XAU/USD (Gold)- Timeframe 4H - Zoom in :
Chart of the pair XAU/USD (Gold)- Timeframe 4H - Zoom out:
XAU/USD (Gold) Live Chart - Timeframe : 1h