Loading ...Avi’s take
Here’s a post from a former gold tenter, Avi Gilburt. The title is rather ominous “This is it for gold”:
https://www.nasdaq.com/article/this-is-it-for-gold-cm982
Bottom line: GLD has to hold the 119 “region” or else (the or else isn’t specified). Currently GLD is at 118.86.
For you DeMark fans, GLD has both downside red Sequential and pink Combo 13 signals as of yesterday.
Thanks Jim.
We’re getting into the zone where technically some red lines will be crossed opening up a possible drop back to the 2015 bear market lows or even lower. I believe we could see a very scary drop in the next day or two, but an ultimate reversal within a week or so.
Hope you’re right NS, but I have grave doubts (and hope isn’t a good mindset for investing at least for me). I wonder what Avi’s projections will be if we burst through his final support zone. I imagine it will be ugly.
I’d suppose $1050 at a minimum, but possibly $800 or so.