broke a strong support at 1333 and should continue to retest the support level
in 20s region. Bare in mind gold
is nearly oversold on 4H charts and should show some small retraces. A mid term bull trend line
is been broken last week, we are currently forming a small bearish trend
. With DXY
is testing its resistance since 2014 there are strong chances for USD to break the resistance and show some power now as per data so far looks good. even if the gold
won't continue bearish
below 20s it will allow hedge traders to secure their short positions in chance of bulls run.