Gold Breaks Through Support

11 במאי 2022

As predicted yesterday, gold fell to 1836. We predicted that 1851 would hold as a lower bound, but if broken, 1836 was the next target. Gold appeared to find support at 1851, but the selloff resumed. We do appear to be witnessing a pivot from 1836 with 1851 currently providing resistance. If we are able to break through, then we can reestablish the range between 1851 and 1905. If not, 1826 is the next target if 1836 does not hold.