Gold Dips, Finds Strong Support

Gold has retraced past all of the support levels discussed yesterday, finally pivoting off 1759. We have since gotten support from this level and are testing 1777, an auspicious level, from below. We do appear to be forming a bull wedge underneath this level so anticipate a breakout. If this is the case, then the next targets will be in the 1780's, 1784 and 1789 to be specific. 1795 would be the final target, just below the value area between 1795 and 1815. The Kovach OBV has leveled off, so we wll require more momentum to break out definitively.