When will Gold find Support?
The selloff in gold has continued, and we have cut through several support levels below. We are getting support from 1784, a level we identified yesterday. We saw a meager rally, which could not crack 1795. A rejection brought us back to the 1780's. The Kovach OBV is solidly bearish, but has leveled off, suggesting that we may have stabilized, at least for a few days, as the US approaches the Thanksgiving Holiday. If the selloff continues, then 1777 is an auspicious level that should provide support. From above, watch 1795 for resistance.
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