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Glistening Mildew

This is a syndicated repost courtesy of Slope of Hope. To view original, click here. Reposted with permission.

Wow. Gold sucks!

Liquidity moves markets!

Follow the money. Find the profits! 

Look, if gold is getting slaughtered while cryptos are surging, can you imagine how weak they’re going to be when cryptos start selling off?

To put it another way, in the fact of every other asset on the planet soaring sky-high right now, GLD is doing this:

Note how the trendline is resistance again. Hopscotch!

Silver also has a failed bullish breakout.

Miners, likewise, have put on their sneakers and jumped right across to the other side of the trendline. Total failure!

Anyway, in spite of all this drama, gold isn’t in serious trouble unless it breaks $1760. If it does……..forget it. This thing is a relic.

Wall Street Examiner Disclosure: Lee Adler, The Wall Street Examiner reposts third party content with the permission of the publisher. The opinions expressed in these reposts are not those of the Wall Street Examiner or Lee Adler, unless authored by me, under my byline. I curate posts here on the basis of whether they represent an interesting and logical point of view, that may or may not agree with my own views. Some of the content includes the original publisher's promotional messages. No endorsement of such content is either expressed or implied by posting the content. All items published here are matters of information and opinion, and are neither intended as, nor should you construe it as, individual investment advice. Do your own due diligence when considering the offerings of information providers, or considering any investment.

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