Gold moves above channel resistance

Written February 22, 2012 at 1:21 PM EST by  

Gold has shot up in the last few minutes and in the process is breaking above the topside channel resistance.  The level comes in at the 1769.30 level. Staying above this level accelerates the trend higher. If the price fails and moves back into the channel, it could turn the bias in the pair back to the downside.

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