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13.03.2012 11:33 AM
GOLD Intraday Technical Analysis

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Gold is moving in a medium-term trading range approaching its upper limit in 1715 indicating a possible decline. However, if these levels are passed through, the significant potential will be revealed resulting in a beginning of a bullish trend.

Technical indicators provide signals for Sell-deals supporting the assumptions of a decline that is expected to take place soon. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement.

According to the previous events, the market indicates a bullish opportunity as soon as the gold will has broken its resistance in 1715 with 1725 and 1730 seen as its first objectives. A breakdown in 1710 will reverse this scenario.
 


 

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