Flynn testimony, Mr. Trump Tax Reform and Gold Direction

Gold moved from 1272 to 1289 after news of Mr. Flynn testimony, however gold failed to close above the 1285 level to continues its short term up trend. Gold then dropped to test the 1271-1272 when US tax reform  plan was approved during the weekend.

The US Dollar is moving up and gold is trading from 1276 to 1271 after tax reform. Gold will drop to 1248-1249 if gold breaks the 1271-1272 zone today. A break of the 1271-1272 zone will start a new trend and gold will escape the choppy market which has lasted for many weeks

 

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