Longterm Trend Analysis XAU/USD 12/7/14

FX:XAUUSD   Gold Spot / U.S. Dollar
The week is over and it was a very bullish week. But if we consider the longterm downtrend on the weekly chart, then there is a resistance area at 1356/60 and we have to be honest to say that in consideration of current financial happenings gold is getting less attention for a trendchange into a long term uptrend so therefore a reversal is very likely.

Looking forward retesting 1200 in August.


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