GOLD is hovering near the KP, will hold?

So far, gold is performing as anticipated with short term correction in place and hovering near the "KP" key pivotal point.
As long as the gold staying above the KP, another upward swing is likely to take place toward new highs.
A clear close below the KP will jeopardize the short term bullish momentum and clear the path for deeper downside correction.

See the below charts

 

IMO the daily highest up close bar before is key, not the OD down close.

 

Update.
4 hours chart, Triangle sustained breakout of false one?
"KP" is a crucial level.

 

At this point Gold is just another currency so it will be an inverse mirror of the US dollar. I would imagine a trade deal with the EU or China would shore up the dollar, at least short term, & that would crater Gold.

I mean a China deal would create a one day crash in Gold of like 5-10% but it would recover most likely. I think the US dollar as a reserve currency are nearing the end. The last straw was Biden's use of the SWIFT system to bully his enemies.

 

Biden's Swift usage means *ick in the grand scheme of all things Dollar.

What the current idiot is doing damages way more the sustainability and creditability of its reserve currency status.

Whatever, Gold's bull run will likely continue much higher.