Gold Rally Faces Resistance Heading Into July | Metals Mine

  • Gold Rally Faces Resistance Heading Into July

    From forex.com

    Over the past couple of months, I’ve outlined a case for gold to face choppier conditions and flagged the potential for a pullback. While prices remain elevated, traders have had to adjust to a market that no longer delivers record high after record high, but instead oscillates within prior months’ ranges. May was the first month since October where bulls failed to lift gold above the previous month’s high. Although May’s wide-legged doji still shows elevated prices, it also signals a shift in character from the strong four-month rally that ran from around 2700 to 3500. Now, with June shaping up as a shooting ... (full story)

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