Gold needs to find support and soon

Spot Gold has been hurt by a run higher into the USD and buyers will need to hold some support soon. We are watching the 1868 zone to see if buyers react and start a squeeze on sellers for a run up. The latest trend is down and momentum may be enough to push price even lower which would open up a move down to 1794. We expect to see a reaction around 1868 although only time will tell whether a higher low will stick for a buying opportunity and for recent sellers to be squeezed back out of the action.

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