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 contracts. This leave will leave opportunities on the table for all institutions of traders to get in on price action before volatility explodes to either side. Am overall bullish but always staying optimistic at key levels. :)
Comment:
This is my fault. Gold futures do not expire in june. Miscommunication and understanding on my part.