If you zoom out on 
GLD, we seem to be trading within a large channel. Price action looks very similar to how it did in 2012 before falling off a cliff.
While everyone has turned bullish on GLD again, citing inflation as a reason for it to be a safe haven, the chart tells a different story. There seems to be strong resistance right above where we are and lots of room to fall lower from here.
Based on the chart, I think over the next 2-3 years, we'll see the price fall to the $131 level in orange, if not lower. I could see price going all the way down to the $116-120 level at the bottom of the channel before bouncing. I marked off buy areas in orange and green as I think it'd start to make sense to scaling into those regions should price get there.
If price falls below $146, that would be the signal that this move is likely to play out. Let's see how this longer term projection plays out.
GLD, we seem to be trading within a large channel. Price action looks very similar to how it did in 2012 before falling off a cliff.While everyone has turned bullish on GLD again, citing inflation as a reason for it to be a safe haven, the chart tells a different story. There seems to be strong resistance right above where we are and lots of room to fall lower from here.
Based on the chart, I think over the next 2-3 years, we'll see the price fall to the $131 level in orange, if not lower. I could see price going all the way down to the $116-120 level at the bottom of the channel before bouncing. I marked off buy areas in orange and green as I think it'd start to make sense to scaling into those regions should price get there.
If price falls below $146, that would be the signal that this move is likely to play out. Let's see how this longer term projection plays out.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.