[GLD] update

Read the backlink carefully.  It provided this chart model saying, "On the bearish side, which is my current lean, it is quite possible that resistance holds, the GLD chart develops a declining double top and next stop is GLD between 95 and 105 which has been Avi's bottoming target for many months now.  If this happens it will be very bullish for gold in the medium and long term.  That's because this big sell off would be the end of wave 2 and then we should expect a multi-year wave 3 that will boost the miners like never before."



Per expectations, GLD put in a declining double top and then headed toward the bottom of the channel.  Now it has put in a double bottom right at expected support so the play here is to buy M+M and then set stops just below the recent bottom.  CWT says that there will likely be one more bounce into wave 4 before the final Avi breakdown to find the real bottom for M+M.  But after that, don't tell your mom or your friggin' sister RA, buy GDXJ for a long term non-expiring non-time value hold near the bottom of a massive deep vee wave 2.

People don't think they care about gold and silver today but in the not distant future you will see it catch a major bid as the dollar begins its big decline.

GLD has not hit 105 yet but it did hit 109, only $4 from the top end of the target range.  If Avi is going to be right, I suspect that the $100 price point will become important.