Checking the RSI index compare to past 6 months,expect the RSI will go over 66.
The spot gold price will test the recent low also double bottom support may be this week or next.
If gold price drop below the support will trigger Dollar to trade higher.
Medium term outlook Dollar will stay high because lots of funds are withdrawn from China in May and June.
Fed...
Today closing already broke 50% support line ($9.68) and the next support line will be $8.60 ( 0.618)
Might need 5 to 10 trading days to see if this will be the bottom at this time.No hurry to long.
Please check volume increased today and last week.Upside resistance is $0.250 and $0.340.
$0.250 should be broken within this week. If $0.340 is broken,sky will be the limit.
