Elliot_Myers
Short

Gold Closing in on Historic Resistance at 1400.00

FX:XAUUSD   Gold / U.S. Dollar
Gold             is on a 7 week bullish run and is fast approaching a historic weekly resistance at price action             above 1380.00 - 1400             .00. Sell opportunities are at the blue line (1390.77) and the price area 1385.00-1400.00 with take profits and buying opportunities for future re-tests at 1340.00.

Short term expect price to test and fail at this level however the decline will be short lived as global risk factors will no doubt drive gold             onwards past 1400             .00 eventually.


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