Gold Spans the Range Back to $1820

Gold has spiked back up through the range back past our level at 1815. We are currently just above this level, facing resistance at the week's high at 1820. We are likely to see resistance here, and if so, we will add this as another technical level to the chart. But we definitely appear to be running out of momentum, though we are not seeing any red triangles on the KRI yet to confirm resistance. The next level above is 1826, which is sure to provide resistance if we can muster the strength to test it. If we are right, and gold retraces, we could span the entire value area back to 1795, or perhaps test the levels below that again in the 1780's. We still feel that 1777 if a floor for now.