#Gold- 1950-1955 is now resistance

If you had read my analysis on gold you know that I'm bullish in the long term and I've been so since 1300. But, as the reputable economist John Maynard Keynes said "In the long run we are all dead", so...what's in short term.
Yesterday, Gold challenged the old 1975-1980 resistance but failed to sustain gains and in the second part of the day fell to 1935 zone. A normal correction followed wich was caped just under in 1950-1955 resistance zone .
I expect this resistance to hold in the next period and Gold could fall to 1900 or even lower.
I will look to sell rallies and only a daily close above 1955 would change my view to bullish once again.

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ALEXANDER ELDER

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