There are so many facts that clearly validate that Gold should continue to rise and the dollar should sink into the dust. However, the worst news for now has been priced into the dollar and when too many people start to take an extreme view, a turnaround is usually close at hand. Given the fact that the Dollar has mounted an impressive rally in the last few weeks and that there are so many large discrepancies surrounding Gold's surge to new highs, caution is warranted.
The correction in Gold will only gather steam if a weekly sell signal is generated. So far, it has generated a daily sells signal and if a weekly sell signal is not generated then Gold will most likely trade no lower than 990.
Let's see what happens on the weekly charts on Gold after this week.
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