Gold Smashes Lower Levels
Gold has fallen further, finding support exactly at our target that we identified yesterday at 1735. We are starting to see what could be the beginnings of a pivot, with a green triangle on the KRI suggesting we are finding support at this level. The Kovach OBV is very bearish, but has flatlined a bit which may indicate that the bleeding has stopped for now. If we do pivot from here, the mid 1700's should provide resistance with 1777 a likely ceiling for now. If we collapse further, we could find support at the base of the 1700 handle.
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