Glistening Mildew

By -

Wow. Gold sucks!

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:

slopechart GLD
Note how the trendline is resistance again. Hopscotch!

Silver also has a failed bullish breakout.

slopechart SLV

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

slopechart GDXJ

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.

slopechart GC