As Predicted, Gold Sells Off!!
Gold faced an intense selloff, as we have been predicting all this week. We made a run past 1815, which gave the illusion that we might be gearing up for another bull run, but we topped out just below 1826, where a red triangle on the KRI confirmed strong resistance. Subsequently, we fell back through support at 1815, and through the vacuum zone below it to support at 1795 *exactly*, which was the level we have been calling out for the past two days. We do appear to be finding support here, and if so, we can expect the price action to be confined to the value area bounded by 1795 and 1815. If we fall further, there is strong support in the 1780's with 1777 as a floor price for now.
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