gold, page-77754

Looking at this thing again and we are still in the upside range starting at the bottom of the March 31st smash with main resistance remaining at $1713.93
But we have had two downside impulse legs and this particular leg gives us resistance on the upside at $1715.49 with target at $1685.41
Now this makes the two resistance levels close but also the target at $1685.41 comes close to minor resistance at $1687.22 of the bigger and older upside leg meaning that the downside target could be met without negating the upside leg.
Also gold breached the downward sloping upper trend line of the original pennant formation (which is now morphing into a flag) twice but has bounced on both occasions.
Gold has also dropped below the upward sloping trend line of the pennant and is retesting that now. A failure to get back above this trend line and a break below the other trend line will more than likely lead to the downside target.
Daily technicals remain weak but not that weak.
Bottom line is we need to get back above our resistance and then the fraudsters resistance at $1715.49