We can see a potential reversal from a summer rally of Gold
for the remaining part of the year. Over the last few weeks - Gold
has been reluctant to reach the summer highs. It broke below the 1500 handle. It has been playing within this bearish flag
for some time now. As DXY
has a potential pullback this week, we can find out if XAUUSD
will break above or below. I'm expecting a break on the downside as per a bearish flag
strategy. It will come to test the 1474 area, if it were to break this then we can definitely see a drop
towards the 1460 area.