Gold Rejects Highs

3 Jun 2022

Gold broke through our upper bound at 1865. We had noted the strong technical resistance at this level, confirmed by multiple red triangles over the latter half of May. But as predicted, gold hit our profit target of 1876. We are seeing immediate resistance here, confirmed by a red triangle on the KRI. The Kovach OBV spiked up hard with the rally, but has immediately slumped over, suggesting that we may reject 1876 or range between this level and 1865. If we are able to break out further, there is a vacuum zone to 1895.