Elliot_Myers

Gold fails second re-test of new high and opens downside

FX:XAUUSD   Gold Spot / U.S. Dollar
Gold             has double topped at the last lower high and while I am skeptical of a sell right now given the USD index is falling there should be caution when taking a long position.

We need a higher close above the lower high to safely buy into Gold             which may come later in today's session, otherwise if the USD index re-bounds (see linked trade analysis) we could short gold             to the previous higher low at 1312.00.
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