gold mofos!!

Gold keeps ripping higher. Currently it is facing some resistance at 1938, which is a Fibonacci extension level that we have drawn some time ago. Since gold is at all time highs, Fibonacci Extensions are pretty much the only tool we have to look for price targets. We have not seen the slightest retracement, and the Kovach OBV is still very strong. More Fibonacci extensions suggest we will face resistance next at 1986. Be careful, because with this insane rally, we will be forming vacuum zones below, and when there is a retracement, it could be substantial. This exponential growth may suggest a bubble is forming.

 

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