GOLD confirmed a strong closing yesterday but found good resistance above the 1740 level. Only a break above 1754,00 will confirm higher levels.
The indicators of the daily chart are still positive suggesting still some upside potential. Those of the s/t ones are instead mixed. In the hourly chart we have however negative reversals that should still limit the upside favouring another move down suggesting a possible target at 1681,10!!
Already an hourly closing below 1720,00 will support a resumption of the decline giving us another chance . it was really a big mistake not taking back the position on Tuesday!!
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http://www.easyforexnews.net/wp-content/uploads/2011/11/GOLD-11.03.pdf
FUTURE TREND RESEARCH