JayKhanna

Gold gearing up for the next move up above $1310

FX:XAUUSD   Gold Spot / U.S. Dollar
We have see heavy selling pressure on Gold             on every top, making it difficult for traders to hold onto longer term contracts. The right shoulder measuring 0.54% as per left shoulder had completed the H&S pattern precisely drawing a top of $1294 (also 50% Fib) , Above which was a target of $1310 and higher.
From what we see is a consolidation until 22nd June, Gold             still has support above $1250 and $1275 where long positions should be initiated. We would watch Price action to reach near term $1250 to $1275 handle to observe carefully how price action behaves within the area
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