Last week’s drop in gold was just a “storm in a teacup” – Clive Maund

Commodity Trade Mantra/Clive Maund/5-23-2018

“Gold’s breach of nearby support last week freaked out some longs of a nervous disposition, but it did no technical damage of any significance, as we can see on our latest 3-year chart shown below on which we can observe that it is still above important supporting trendlines.”

USAGOLD note:  A similar conclusion to the one we posted in our 5-18 Chart of the Day only with considerably more detail and a battalion of supporting charts.  Maund draws one trend line with support at $1260 and a second with support at $1300.  We split the difference on our trend line making $1280 the magic number.  So far it’s held. . . . . . .

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