July 1, 2016

GOLD Broadening pattern Update

  • Gold weekly shows price trying to stay above the resistance line of a broadening pattern. Month chart shows price moving into stiff resistance zone. Gold bulls need a monthly close above 1350 levels to keep the bullish momentum intact.

ES Analysis before opening bell

  • ES 30 Minutes cloud continues to act as support. Bears must break below the cloud for a bigger correction to follow. Till price stay above this 2100 plus levels are likely.
  • Daily chart shows price nearing cluster of resistance zone.