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GOLD/ U.S. Dollar


The Gold traded well below the 1940.00 swing point, but never closed below it. This rally should take them to new highs to remain very positive, if no new high happens, or a slightly higher high (2100.00 major Gann square) and then right back below previous high it will be a negative sign. Continue to watch the U.S. Dollar and the 91.30 level, this is 38.2% back to 2008, if it coincides with the Gold's failure to make a new high, it can be a longer term top in gold and bottom in the $. This level in the $ is huge, so to blow through it would mean a lot low in it and higher in the Gold. Major timing in Gold is the 24th.

Gold Daily