With the recent rate cut gold sold off and was bought up aggressively and is now once again breaking out of the channel. - I doubt we get 2 fake outs in a row.
The chance of a drop to low 1400's has become increasingly likely.
I expect sentiment on miners to improve drastically as we experience a wave of earnings in the next 2 weeks. Earnings should be very good with gold and silver experiencing higher prices over the last few months.
happy trading... don't sell your miners too early.. this could be the start of a historical bull market in precious metals and miners.
The chance of a drop to low 1400's has become increasingly likely.
I expect sentiment on miners to improve drastically as we experience a wave of earnings in the next 2 weeks. Earnings should be very good with gold and silver experiencing higher prices over the last few months.
happy trading... don't sell your miners too early.. this could be the start of a historical bull market in precious metals and miners.
Comment:
*increasing unlikely
Comment:
took profits on longs Friday. Will reopen on Monday if we get above the 1st red box
Comment:
not looking good so far, probably going to dump