Gold's next resistance area is around 928-930
along the thick blue uptrend line and the congestion
of trading between 932 and 928
I am not seeing any big bids coming into June Gold
although the climb back has been gradual and
consistent. Interest in gold here should be growing
by leaps and bounds if it goes lower to the next
two retrace points for this last up move.
Gold will probably retest the low here and even
drop lower as I think it NEEDS to hit the 75%
retrace point to clear out the weak longs and rally
more strongly.
The strong dollar is also an impediment, the Euro
falling isn't helping, and a falling Dow is weighing down
gold.
Gold has just broken above the thin blue line and big bids
are moving in.
