“GOLD BULLS HAVE THE EDGE” – STEWART THOMSON
JULY 24, 2013
Gold has jumped about $160, from the $1180 area lows. Significant sell-side HSR (horizontal support & resistance) sits in the $1320 – $1340 area.
In the big picture, gold can go quite a bit higher.
The massive volume bars on the GDX chart and the horrific technical damage that is clearly apparent for the bears indicate that the bulls are beginning to win some battles. A further rally in gold here could literally wipe the bears off the price map!