GOLD, too much pressure on a very important support!

mario urlic forex gold 17.02.

I must analyse gold on smaller time frame now and this is how it looks like at the H4 chart. You have seen my previous analysis and how the buyers have reacted at this 1190/95 support yesterday and early today, but I don’t like what I see now. The pressure on the main support is very strong and possible break down is possible. US dollar slowly regaining strength in the market and that’s why the gold is not favorable in the moment. Take a look at this levels and follow the move on gold, as I see it, it’s not for long positions now. In my point of view, there is huge stops at around 1165/70, that could be the target for sellers!? Can they break this very important support on gold and reach that? Not easy for sure, the buyers are strong here as well.

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