03 June Monday Update

Gold has yet to regain the ground lost the week ending May 17th. The metal remains in consolidation between 31852 (USD 1321) and 36047 (USD 1495). From RSI stand point, gold is not yet oversold. The Bearish trend remains in place, and gold is likely to test support level in its low 31345 (USD 1300) level.
But long as the trend line shown in image is intact it sure is not a good idea to open a short position.