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FX.co ★ GOLD Sell Short, August 16, 2011 (Daily Strategy)

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Forex Analysis:::2011-08-16T13:59:23

GOLD Sell Short, August 16, 2011 (Daily Strategy)

GOLD Sell Short, August 16, 2011 (Daily Strategy)

GOLD

The price of gold is finally beginning to signal a reversal of its trend and the start of a corrective movement that could be very deep. This is against the background of the exceptional wave of increases that brought the price of gold to the astronomical height that it is traded for at the moment.

According to our technical perspective, the price of gold has to correct at least until the 1615,00, so we recommend selling only if price closes below the first weekly resistance, around 1812,70.

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