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Jul 13
XAU/USD (Gold) Analysis - June 1, 2011: Tend Sideways, Beware Rebound
Wednesday, 01 June 2011 01:29

Commodity XAU/USD Intraday Analysis - June 1, 2011: Tend Sideways, Beware Rebound

Yesterday: Open 1538.20 High 1540.30 Low 1531.80 Close 1534.60

Yesterday gold cendeung sideways movement in the range of 800 pips daily with the highest level at 1540.30 and the daily lowest level in 1531.80.

Today the Golden still looked sideways movement.

There is no focus on economic data today for XAU / USD. 

20110601_xau

If still experiencing continued increases then the price will open up opportunities to level 1546.60

We recommend that if the price decline continues then the opportunity to as low as 1527.20.

Prices shown on the graph H1 line MA05 and MA10 in condition tend sideways.

While the Stochastic indicator indicates there are still opportunities to penetrate the bullish long diagonal trend line in the Stochastic indicator.