Gold Slides Steadily

١٩ أغسطس ٢٠٢٢

Gold is on a steady bear trend, after rejecting the 1800's. We have smashed through multiple support levels in the upper 1700's, in particular from 1780, the 50% Fibonacci level. Currently, we are hovering in the 1760's, just a few ticks above 1758, the 0.382 Fibonacci level. This will provide support if gold slips further. The Kovach OBV is on a steady decline, but we are due for a relief rally, even if it is just a technical move. If so, 1780 is a reasonable target.