Gold Reaches Our Target Value Area

As anticipated Friday, Gold fell through support at $1815, and fell through the vacuum zone to $1795. We actually dipped a bit further, to test support in the $1780's before equilibrating back at $1795. We were confident that this would happen since the range between $1795 to $1815 was a previous value area respected last year. However the Kovach OBV is still very bearish, so be advised that we may dip into the $1780's once again.