XAU/USD(Gold) Analysis - July 4, 2011: a chance to level of 1505.30
Monday, 04 July 2011 05:22
XAU/USD(Gold) Analysis - July 4, 2011: a chance to level of 1505.30 When Can Penetrate Trendline, Alert Corrections
Yesterday: Open 1500.50 High 1502.20 Low 1477.90 Close 1486.10
Towards the European trading session began yesterday, the Golden bearish movement to pass about 800 pips from the support level at 1486.50. Further movement of gold try to ride through those levels.
The focus of today's economic data for gold are: USD Bank Holiday "Independence Day"
Currently visible gold can still bullish.
If still experiencing rising trend line continues through the diagonal then the price will open up opportunities to a level of 1505.30.
We recommend that if the price decline continues then the opportunity to as low as 1478.00.
Prices on the graph H1 stripes seen in the MA05 and MA10 bullish conditions intersect.
While the Stochastic indicator indicating the bullish conditions is limited.