XAU/USD (gold) : Take up of the medium term bullish trend
--- Follow up analysis ---
The pair XAU/USD has made yesterday a strong rebound and is back again on 1780 points as resistance. The price is still moving above the upper band of its medium term bullish channel (purple lines).
We continue to advise long positions as far as 1760 points. The breakouts of 1780 and 1800 points will give new buy signals.
In case of return below 1760 points, we will then advise to wait the breakout of 1740 to trade short positions.
NB: The gold could also be trade according to 1760 points (long above and short below) for traders with a more agressive strategy
Analysis published by Vincent, the 09/28/2012 at 10h15 GMT+2
Chart of the pair XAU/USD (Gold)- Timeframe 4H
Chart of the pair XAU/USD (Gold)- Timeframe 1H
|XAU/USD (Gold) Live Chart - Timeframe : 1h|
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