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    Technical analysis of Gold for June 21, 2016

    Gold price made a bearish reversal last week confirming a short-term top is in. Price reached the first important support area of $1,270-75 but I believe we should expect more downside in Gold price specially if we see a daily close below $1,270.

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    Price is still trading above the 4-hour Kumo keeping the hopes for bulls alive for a move above $1,320. However, the reversal from last week is a strong indication that we should expect more downside closer to $1,250-45 specially if support at $1,270-76 breaks.

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