XAUUSD - daily technical analysis

  @ibtimes on December 07 2009 12:06 PM

The price is consolidating with the 50 days MA, trading at 1141.82 dollars per ounce, The bands of Bollinger show low volatility in the hour, while the RSI is clearly oversold.At 18:00 CET, Bernanke will talk about the US inflation, which could offer interesting trading opportunities.

If the trend stays to the downside, the first support is at 1138, while the next resistance is found at 1156.80 dollars per ounce.

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