Gold futuresGold FuturesCOMEX_DL:GC1!TJ-001Gold futures have corrected sharply downward over the past four weeks, momentarily reaching levels seen in November of last year. We previously pointed to such a risk, and it has materialized. Technically, the overbought condition in gold has now been cleared; however, the speed at which the correction occurred is concerning. In any case, the key takeaway is that gold held above the $4,400 support level, and thus, formally, the global trend remains bullish for now. Long-term trend: Up Resistance level: 5600 Support level: 4400-4500