Gold has rallied massively, breaking through to the $1700's. Yesterday, we tested our level at $1683. As predicted, it provided resistance. A pullback tested $1670, where we immediately saw a strong pivot. Then momentum continued through $1683, and several levels after that, solidifying the $1700's. We reached as high as $1720 before a red triangle on the KRI confirmed resistance. The Kovach OBV is very strong, but this is quite a move for gold and we expect some ranging or a pullback. Support is evident at $1705, but if that breaks then $1692 and $1683 should also provide support. If the rally continues, $1735 is the next target.
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