Silver Continues Consolidation....
GbpChf Targets Above 1.54 Till 1.5230 Is Intact
News: 2012-07-19 07:59:13 UTC+00 10 months, 3 days, 4 hours, 59 min. ago
Gold Bais Turns Increasingly Towards A Bearish Breakdown


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Technical Outlook and Chart Setup:
Yesterday we discussed that the yellow metal is vulnerable towards a bearish breakdown till prices are below 1600.00 level. Today we re-confirm the above depicted structure. Immediate resistance is now at 1600.00 level, it is expected that prices should not exceed this for now. Expect a bearish breakdown to materialize soon, which would bring in a paradigm shift in the trend. We shall turn bullish only on a clear break of 1620.00 level on the higher side.
Trading Recommendations:
Short at current market price (1673-75), Stop 1620, target open.

Good Luck!

Performed by
Analytical expert: Harsh Japee
InstaForex Group © 2007-2013
 Published: 2012-07-19 07:59:13 UTC+00 10 months, 3 days, 4 hours, 59 min. ago

 
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