JUN GOLD

Resist: 1649.50, 1656.00, 1666.30*
Supprt: 1634.50, 1622.30-1620.90, 1604.30-
Comment: The market is bearish with last week’s break marking a flagging downturn, opening up the
formation for a selling wave to 1600.30 and chance to reach against the 1570.20-1560.50 level. Monday’s rebound hints for another 1-2 flagging congestion days, but narrow congestion days under 1666.30* will bear flag
and return to selloffs after a few days. A close over 1666.30* is needed to send a retracement near 1689.50.