Sunday, September 25, 2011

Xau/Usd : Pause in the decline

In gold against the us dollar (Xau/Usd) we can see that from the top there are 2 almost equal legs separated by a triangle. Since the 1920$ top is a major top i believe the rally will be corrective and should not reach a new high. The rally to the top was very strong and sharp, the reaction to this once price turns like it has now should be the same but in the opposite direction. It is for this that i believe that the countertrend rally could be small.

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