XAU/USD (GOLD) Technical Analysis

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I advise traders to trade only short positions as far as the price will be located below 1670 points.
A stay below 1665 points will strengthen our bearish sentiment.
The downside breakout of 1655/50 would offer new sell signals for an extension of the downtrend towards 1640 points or lower if this level is also broken.

In case of return above 1670 points, then I would advise traders to wait for a breakout of 1675 points before trading long positions.

Full analysis
Analysis published by Vincent, the 01/29/2013 at 09h30 GMT+2