We've broken down the hourly range this night.This is a chess to the american longs.
Who will hold a long position into the holiday? I think most of the funds and the big players will not.
So when volume comes in price will break below the 200 SMA. If many of the banks are thinking the same we shouldn't be surprised if the "Contract Dumper" who sold gold 2 weeks ago on Monday will dump again to push gold through the 200 SMA before USA opens.
Let's see if we break down violently the 200 SMA in the next 2-3 hours.
Target is : 1214$