My analysis until June 19th. With futures contracts expiring on the 19th i expect gold to either retest this 1763 area or even break higher until 1772 with strong seller rejection back at this level in 2012. Gold continues to stay above the 200 ma waters but is at small momentum and will ultimately lose a bit on possible profit taking during expiration of...
Gold finds sellers at 1735. Possible continuation bearish until top of bullish pennant meaning we need to sustain that 1717 break. Also, took a nice rejection candle off that bullish trend line at 1730. Can news be strong enough?
Saw a potential head and shoulders at this level but as it fails to break 1720 strongly and is in a liquid zone, i may consider this a falling wedge if price behaves correctly, which would send price back above 1740
