XAU/USD (gold) : Take up of the medium term bullish trend
--- Follow up analysis ---
The pair XAU/USD (Gold) continues to move on the upper band of its medium term bullish slant (purple lines). The price is still finding resistance on 1780 points.
We continue to advise long positions as far as 1760 point is support. The breakouts of 1790 and 1800 points will both give a new buy signal and will open the way for a new bullish wave.
In case of return below 1760 points, we will advise to wait the breakout of 1740 points to trade short positions.
NB: The gold could also be trade according to 1770 points (long above and short below) for traders with a more agressive strategy
Analysis published by Vincent, the 10/09/2012 at 11h30 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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