Gold Hits Our Target!!
Gold has hit our next target of 1905, after smashing through 1895. We saw resistance from 1905, as anticipated, and subsequently retraced slightly. We are currently seeing support just under our previous target of 1895. If we retrace further, we should see support at 1876, then 1865. After such a strong rally in gold, it is reasonable to anticipated a technical retracement. The Kovach OBV is still quite strong, but has started to level off a bit, suggesting we may anticipate a retracement or at least a sideways correction as gold feels out the current value area.
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