At these FED minutes reversals price many times tested back the lows that occured a few days before.
So just prepare for a test of 1240 or maybe a test of the 240 at 1230 $.
As we are late in the daily cycle there will be no follow through after a spike down. I will be adding at the lower low level if there will be any.
As I'M watching the dollar the minutes release might be for the dollar. We are just 3 weeks before elections. The strong dollar as bad as for today's power as the falling dollar or the falling SM.
The FED needs to take care of the balance so don't get surprised if it's obvious from the minutes release that no rate hike till December and gold just rockets higher without any spike down.
We just tested back the 20 & 50 EMA + the flag's trendline on the hourly after breaking out of the flag earlier in the night.
Swing level is at 1265.21$.
Daily swing confirmed if we break above the Friday's high.