by Dan Norcini
Trader Dan Norcini
Isn’t it amazing that some are so ready to call for an end to the bull market in gold. From a monthly chart perspective, there is nothing to indicate such an occurrence.
In 2008, the CLOSING MONTHLY GOLD PRICE dropped 26.5% from its best to worst level before it renewed its uptrend.
More recently, gold has dropped a mere 14.4% from it bests closing monthly level to its worst level reached with a handle of “15″ in front of the gold price.
Keep in mind that purely from a long term technical chart perspective, the metal remains in a solid uptrend.