FX.co ★ GOLD Sell Short, August 09, 2011 (Daily Strategy)

GOLD

This morning, gold traded at around 1776.00 U.S. dollars per ounce. Note that the precious metal remains a focal point for investors, given the large number of issues relating to the financial environment.

According to our technical perspective, the price of gold has to correct at least until the 1650,00, so we recommend selling only if price closes below the number three weekly resistance, with a target to the uptrend line.