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Gold fails to break resistance

Gold

Gold once again failed at the 1300 resistance level, and dropped back to 1266. With RSI at 70, it was a classic case of an “expected” reversal.

NOTE: Hima Reddy wrote on our blog, on 1st June 2017 :- GLD looks “toppy” to me

NOTE: Dave Reiter wrote on our blog, on 8th June 2017 :-
The bears are still firmly in control of the gold market. GCQ7 must generate a weekly close above 1301 in order to turn bullish on a short-term basis.