Gold still stuck – 31/05/2012

Gold price attempted to break the symmetrical triangle's support line as shown in the image below, while trading went back quickly above this level.

Image

Gold price attempted to break the symmetrical triangle's support line as shown in the image below, while trading went back quickly above this level, and this postpones the confirmation of more bearish actions, specially that we witnessed recording three consecutive bottoms near the critical support line at 1522.50For Now, I prefer to stay aside to monitor price behavior according to the mentioned pattern's sides, these levels located at 1551.00 support and 1576.00 resistance, and surpassing one of these levels will provide us with more accurate signs for the next trend.