Gold Tests the Lows of the Range

10 May 2022

Gold tested lows again at $1851, exactly as we discussed. Recall that we anticipated it would fall to this exact level yesterday, here in these reports, as it was likely to feel out the new range it is establishing. We made a run for higher levels, but $1905 provided prohibitive resistance and we sought lows again subsequently. We are getting support from $1851, and if we see a bounce, we may feel out the range again, with $1876 a likely intermediary target. If we break down, there is a vacuum zone to $1836.