/biz/ - Business & Finance

>>51576931
so what do you think physical gold premiums will be at when we inevitably break below $1500, frens?

>>51575779
$1450 is support.
Break that and we'll likely revisit $1200.
Every leg down from here is a buy, but we are definitely going lower.
>How many ounces of Gold will you buy when it hits $700
0 ounces because that's not going to happen. OP studies TA at Anus Tonguing University.

>>51516973
I agree 100% that this is nowhere close to a 2013-style environment. Take a look at the weeklies for 2008-2011 and I think you'll agree that's a far more likely scenario.
Short-term is incredibly bearish.
That doesn't matter much for long-term and highly liquid investors, but it does matter for anons who are late to the party.
>lists names of a bunch of commentators supporting Q4 2022 bullish thesis
Color commentary is fine but it shouldn't dominate your opinion of the landcape entirely.
Gold is locked in a brutal down channel at present. There's no getting around that. A weekly break above $1730 or so would challenge this pattern but it looks increasingly unlikely.
Best-case scenario for gold is that we bounce off the 236 fib before breaking free of the down-trend.
Worst-case scenario is we revisit support around $1450.
The lower bound of this range is almost directly correlated to Q4 2008 price action, and we all know what happened after that.