XAU/USD (Gold) Technical Analysis comments :
The pair XAU/USD made yesterday a pullback on the resistance at 1650 points.
The pair is still moving into a short term bearish channel (purple lines) and is now moving below the lower band of its long term bullish channel.
All indicators are bearish.
We continues to advise short positions as far as 1650 points is resistance.
A return below 1640 points will comfort our bearish feeling.
The breakout of 1630 points will give a new sell signal and open the way towards 1600 points.
In case of return above 1650 points, we will wait the breakout of 1680 http://www.ibtimes.com/biz/admin/publish/published/index.php?a=insert&typology=1points 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 :
Chart of the pair XAU/USD (Gold)- Timeframe 4H - Zoom out:
XAU/USD (Gold) Live Chart - Timeframe : 1h