Thursday, January 12, 2012

Rebound and further slump (2012-01-12 Gold analysis)
















Above is the daily chart of Gold price (XAU=). It seems like it is going to break out the purple Pitchfork (yet to be confirmed).

If so, the red down-trend line will be the next resistant which the gold price could hardly break. Then it will continue its bearish trend.

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