GOLD Flag

We can see a potential reversal from a summer rally of Gold for the remaining part of the year. Over the last few weeks - Gold has been reluctant to reach the summer highs. It broke below the 1500 handle. It has been playing within this bearish flag for some time now. As DXY has a potential pullback this week, we can find out if XAUUSD will break above or below. I'm expecting a break on the downside as per a bearish flag strategy. It will come to test the 1474 area, if it were to break this then we can definitely see a drop towards the 1460 area.