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Gold (February) is getting crushed in the night session as I write this. A Key Reference Area (KRA) comprised of a large High Volume Node (HVN) from the May-August auction resides at 1627-1603. If gold trade into the lower extreme of potential support it will begin to dramatically increase the possibility of a test of the 1540 early summer lows.

Gold needs a close above 1704 to restore an intermediate term bullish outlook.