Gold long lasting daily downtrend has short lived as price found bottom at our daily support zone (1273.089). Now we back up testing our monthly resistance key level (1330). What does this mean in the the first week of June. Could be possible breach (not break) our monthly resistance level to and hit our weekly mid-range resistance (1400) and reverse. Or will price continue on to reach (1474).
Seeing that in the monthly time-frame price has been making higher low points i am going to assume that we will get gold passing (1330) and into the (1400) region.
Lets put on our patience hat on and see what the market does in the next coming weeks.
Seeing that in the monthly time-frame price has been making higher low points i am going to assume that we will get gold passing (1330) and into the (1400) region.
Lets put on our patience hat on and see what the market does in the next coming weeks.
