Pashabxl

XAUUSD: Downtrend resuming

FX:XAUUSD   Gold/U.S. Dollar
218 0 7
GOLD             had a double bottom pattern and this pattern has been completed. At the present time, since there is no inlfation risk yet, nor any increase of interest rate at a short term period, and the risk of Greece has been contained, GOLd             is going back to its initial trend since 1909.30.
The level of gold             are still the same; 1140, 1120, 1080; 1060. Bellow 1060 it is 980 rather a big gap, but I do not think that we would reach that level at all.
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