JUN GOLD

Resist: 1624.40-1626.40
Supprt: 1593.90-1555.50
1* The directional selloff shows a strong probability for a corrective rebound today above 1626.40.

2* Yesterday's close signals breakout under a previous daily swing low and should prompt continuation selloffs the next 1-3 days. Sustained trade under the previous low will help motivate selloffs. Corrections should not close above 1640.80 to
maintain the breakout.

3* Market is showing a marked acceleration in the trend. However, be on guard for a correction today against the trend to consolidate the loss. Trend should remain intact barring a close above 1640.80 or full retracement of yesterday's range at 1649.60.

4* We have currently traded below the first swing target for this market (1632.50). The next objective is 1608.00. A close over 1657.80 is needed to negate a bear trading stance.

5* Market is within proximity of this week's projected support range of 1564.50-1589.50, which may provide a likely zone
for bottoming action or rebounds.