Gold Tests Higher Levels

Gold got a lift breaking past our level at 1815, just barely. We are currently testing 1818 or so at the time of this writing and appear to be encountering some resistance. The Kovach OBV and Kovach Chande indicators are starting to suggest that we are overbought at the moment, which suggests that gold may dip or at least range a bit. If not, the next target is 1826. If we are unable to sustain the current levels, as the technicals suggest, then we should retrace back to 1795 with ease. Recall that we have further support in the 1780's with a floor at 1777.