Gold trends upwards and inching towards resistance at $1,000

May -28. Gold instead of correcting has maintained a steady sideways trend and today has broken out  from congestion  USD 960 and inching towards resistance at $1,000 in a short period to time.  Gold Traders  can initiate a buy position and ride the uptrend and book profits around USD 1000.

We strongly advice traders not to short sell for 2-3 weeks time frame  even though traditional technical indicators indicate othewise.

 Pl find the updated Gold chart below and look at the forecast  BLUE LINE which is superimposed on the Gold price chart.  Gold should closely follow the wave form indicated in BLUE LINE for a rally for about 2-3 weeks.

Happy Trading.

 

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