Provided US has good data that shows us it's in recovery i'll be holding my short, i'm of the view that the fed will not hike mid year let alone december, so till the next interest rate meeting where they will undoubtedly blame china or something else for not hiking, i will stay short following this falling wedge pattern, the yellow boxes are areas i have identified showing us this support/resistance band between $998 and $1040. Provided the US data isn't abismal over i expect to be able to reach 1042 perhaps lower should economic data warrant a further fall, i'm not sure for how long gold will fall, or if it will turn at the next meeting, all i know is im staying short on the strong USD sentiment till the fed don't hike. I am a strong believer that the state of the US economy in no way warrants a rate hike, not only the lacking economy, which for some reason is being classed as recovering, but the monumental debt that is ever increasing, has now over taken GDP. Unless the federal reserve plans on not paying interest on the sovereign debt, they wont be able to afford the hike, disagree? PM or leave comments i don't mind a good discussion or two
