Gold recovered slightly today but the action in the Gold stocks suggests the yellow metal has not found a bottom yet, though it can’t be far off. John’s 6-month daily chart shows that RSI(14) is at previous support. Expect at least one more test of yesterday’s low of $1,616. The “big picture” outlook remains unquestionably bullish despite the weakness since the end of February that has sent Gold down nearly $200 an ounce.
