Gold market update from tech analyst Clive Maund

Clive Maund/2-23-2020

“Even though gold’s progress in the recent past has been measured and modest it has actually done well – it took its time because it was chewing its way through the considerable resistance arising from the 2011 – 2013 top area. It still is and will be until it gets to the 2011 highs in the $1850 area. However, as mentioned above the now near vertical ascent on the right side of the Bowl on Larry’s chart [not shown please visit link] means that gold is likely to be propelled to new highs with alacrity. It is very important at this time not to get too hung up on gold’s performance against the dollar, which can be misleading and lead to missed opportunity. For the fact is that gold has been romping ahead against most currencies, making new highs in many of them.”

Chart showing technical analysis for gold from Clive Maunc

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