GOLDBUGS AMEX Goldbugs Index (GOLD): Gold for the Close of May 18th, 2018...

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Saturday, 05/19/2018 10:59:34 AM

Saturday, May 19, 2018 10:59:34 AM

Gold for the Close of May 18th, 2018
By: Marty Armstrong | May 18, 2018

Gold has crash and at the time of this post it is trading at 1291. We have panic cycles in mid June and a Key target will be the week of June 11th.

A closing today below 1306 will be a warning that Gold is indeed breaking down once again. It is unlikely that gold will hold-on if we see the dollar continue to surge as political uncertainty engulfs Europe.

The main support is still at the 1265-1270 area. This is what we need to pay attention to. Breaking that area will continue to put pressure on Gold into the weeks ahead.

Resistance is now firming at the 1325-1330 area and 1337-1340 zone.

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Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Your Due Dilegence is a must!
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