0. GLD may make an attempt to move to the top of the current downtrend channel, but make no mistake about it, it is breaking down below this channel
and following the major downtrend to $120 that will unfold, related to Chinese slowdown, and the non-purchase of it as jewellery, which is 60% of it's usage worldwide.
1. Kitco already reported horrid 2019 Gold numbers, and confirmed a long term downtrend.
2. Gold only caught a bid due to "negative rates", "The election uncertainty", and "Corona End of The World BS";
3. Long term trend is down to the $120 area easily as outlined by both Morgan Stanley and Goldman back in the fall, when they said to take
profits at $145, and wait for $120 to enter back in. That will come true soon.
- drchelsea.