XAU/USD (Gold) analysis of the week (4h candlesticks)

 @ibtimes on January 14 2010 4:03 AM

The price fake a break out of the resistance at 1150. The price is now back on the lower band of its bullish channel (blue lines) and with the support at 1125 (fibonacci retracement 50%). Indicators are still bearish and we maitain to trade only long positions as far as the price is above 1125. A break out of this level will offer a sell signal and will allow the parity to get back on 1100.

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