Update on the price action so far on the 4H TF XAUUSD.
Price has now initially rallied up to the resistance (red line) and rejected as I thought it would. The swing back down was the crucial one and that resistance held and rallied through the short term resistance which I must admit I was not sure the second attempt. I suspect the banks will now let price expand through the ranges back to test the key swing points. Being still stuck in that daily tight congested range, I think the banks will run price up to square their positions at the very least or could possibly target the daily swing high $1283.57.
If the data out of US keeps missing expectations couple with more dovish comments by Yellen tomorrow morning then the selling of USD will quicken to drive price of gold higher.
Regarding the shanghai fix, market crash or other ludicrous sensational evidence that are seemingly uncovered on a daily basis is just bias confirmation that clouds the mind from making rational analysis.
