Gold Forecast - 09 JUN 2009

H4 Graph
Gold dropped below level 945 . That cleared the way for further dropping to support level 903. Resistance is currently at level 954. In case of upwards motion, we can’t say that current downtrend is changed to uptrend until gold rises above level 977, and if so, gold will reach key resistance 997 ( trend line). The interval between levels 955 and 977 is a neutral zone. While staying in that zone, either direction of further motion can’t be guaranteed.
For now, we keep waiting until support 903 is reached.