GOLD GLD XAU - Monthly Chart - worst case scenario for bulls!
I'm bullish on gold long term, so here's some high time frame analysis while Peter Schiff rattles off on Bitcoin again.
Bullish scenario - Price pumps up to 1600 and then finds support on 1575 (price has to close above 1575)
Bearish target - momentum and volume slows down bringing price to supports at 1425 and even as low as 1330. Excitement will increase at the discount and buyers will take charge again.
Bullish scenario - Price pumps up to 1600 and then finds support on 1575 (price has to close above 1575)
Bearish target - momentum and volume slows down bringing price to supports at 1425 and even as low as 1330. Excitement will increase at the discount and buyers will take charge again.
