The US dollar is crumbling below the 93.50 level and is on its last legs. Gold has pushed the bears back and the price retreats back above $1,900 to form new support. Gold bears go back to the drawing board and await for high probability conditions. The price of gold is now testing the counter trendline with the $1,906/10 structure in its sights on a move which will have stopped out bears at last resort resistance. The new support structure will need to be broken before committed bears can step back in. The following shows the 4-hour analysis which complements earlier updates and analysis: As illustrated, the … (full story)
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