Does it hold?

١٢ سبتمبر ٢٠٢٢

Gold rallied today on a weaker USD but some late NY session weakness is testing the metal's support. this 1h zone that is is sitting in appears to be the make-or-break area and decision area. If gold can hold here I would see it staying in the channel and meeting the above daily resistance at 1737. A breakdown of 1722 though provides decent shorting opportunities toward the 1h 1714 zone or more conservatively the bottom trend line of the channel. I would imagine indecision until Asia wakes up.

If I had to choose... bullish