Gold Tests the Lower $1800's
Gold broke out through the vacuum zone after edging down in the lower 1800's. We tested 1826, though multiple green triangles on the KRI started to indicate that the selloff was encumbered. This suggested a break out was near and subsequently we hit 1851. Recall that we can expect increased resistance starting at this level through the mid 1850's and that is exactly what we saw. After hitting 1851, we immediately rejected it and plummeted back to 1826. If we fall further, watch for support at 1815, then there is a value area between 1795 and 1815.
Join my discord at discord.io/quantguy
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.