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

By IBTimes Staff Reporter | February 05 2010 2:41 AM

The break out of 1100 offered a sell signal. The parity is now moving into a bearish channel (blue lines). The price is currently testing the lower band of the channel. A pullback on 1080 is likely to happen firstly. However, we not advise to trade this rebound. We stay neutral on the parity, waiting for this rebound to then advise to trade only short positions as far as the price will be below 1100.

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