CLICK ON CHART TO ENLARGE
Smiles on the faces of Gold Miners have been hard to find in 2013, as GDX was down over 40% YTD recently. The decline has driven GDX down to a lower lower channel support line that has seen counter trend bounces over the past couple of years.
The Power of the Pattern shared with Metals Research members over a week ago that another counter trend rally was due in the Miners due to the pattern at (1) above.
Not only did this pattern suggest a rally was due, a sentiment reading was hit recently in the metals complex that has NEVER happened before!
The above chart reflects potential where upside resistance could come into play.
If you could benefit from receiving weekly updates and trading ideas for Gold, Silver, Copper and the Miners you can receive the report for just $29 per month (Monthly sign-up) or you can receive a 20% discount by with our Annual plan at $278 per year (Annual sign-up)
–
–
