Gold 
Gold is currently testing the intermediate support of its medium term bearish channel at 1,552 suggesting a rebound. However, a break through this level will trigger a decline to the lower limit – 1,508.
Technical indicators do not provide clears signals but are approaching the oversell zone supporting the assumption of a rebound. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement.
According to previous events the market will provide a bullish opportunity at the level of 1,552 with the 1st objective at 1,565 and then at 1,570. A break through 1,549 will alter this scenario.
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Trading spot currencies involves substantial risk and there is always the potential for loss. Your trading results may vary. Because the risk factor is high in the foreign exchange market trading, only genuine “risk” funds should be used in such trading. If you do not have the extra capital that you can afford to lose, you should not trade in the foreign exchange market. No “safe” trading system has ever been devised, and no one can guarantee profits or freedom from loss. 
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