Doesn't look good for gold bugs... but for cool kids!
On at monthly logarithmic chart gold has broken its back by loosing it's long time supportline.
What was the reason for QE whatever number.... credit crunch and afraid of not maintaining a minimum inflation rate of 2%.
Well what inflation rate does your country have today? Here in Denmark it's 0,2%
If we have a deflationary outcome ... gold goes lower.
We might see a back test of the broken long term trendline....Gold bug or not - it doesn't look good for gold.
Safe trading
BLawrenceM
Music at work:
youtube.com/watch?v=UXTlczyWJ-Y
open.spotify.com/track/13P5rwmk2EsoFRIz9UCeh9
What was the reason for QE whatever number.... credit crunch and afraid of not maintaining a minimum inflation rate of 2%.
Well what inflation rate does your country have today? Here in Denmark it's 0,2%
If we have a deflationary outcome ... gold goes lower.
We might see a back test of the broken long term trendline....Gold bug or not - it doesn't look good for gold.
Safe trading
BLawrenceM
Music at work:
youtube.com/watch?v=UXTlczyWJ-Y
open.spotify.com/track/13P5rwmk2EsoFRIz9UCeh9
Website:
Instagram: instagram.com/CoinedByCrypto
Twitter: twitter.com/CoinedByCrypto
Instagram: instagram.com/CoinedByCrypto
Twitter: twitter.com/CoinedByCrypto
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Feragatname
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