On the short and medium term , Gold is trending up .
Early on the 4H timeframe it broke a downtrend line with 2 tops and was successfully tested
Recently it broke and closed above the newly formed resistance level 1532.30 Now working as support
Based on the previous analysis , There's a Long opportunity on the GOLD
Best level to buy at was near 1533.20 with target at the upper limit of the channel at 1569.70
SL should be below 1515.40 as its break will allow the price to go lower .
http://instaforex.com/forex_analysis/29697/?x=OUE
Early on the 4H timeframe it broke a downtrend line with 2 tops and was successfully tested
Recently it broke and closed above the newly formed resistance level 1532.30 Now working as support
Based on the previous analysis , There's a Long opportunity on the GOLD
Best level to buy at was near 1533.20 with target at the upper limit of the channel at 1569.70
SL should be below 1515.40 as its break will allow the price to go lower .
http://instaforex.com/forex_analysis/29697/?x=OUE
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