Loading ...Also bullish is the chart of the GLD posted Saturday as it has entered into oversold status. Everyone is now resigned to a test of the 200-dma at $118.25 ($1,152 for gold) but I don’t think it will get there without at least a $30 rally first.
The miners are also approaching levels from which they usually rally so with the HUI right at the 200-dma at 157.50 and with JNUG down six out of seven sessions, things are starting to get interesting.
These set-ups should work just as they have in the past but use tight stops and scale into positions.while I see how silver does in the overnight session.
I am trying desperately to ignore Mr. Einstein’s famous quote on behaviours begetting negative outcomes but I am also mindful of the diabolical machinations of the bullion bank behemoths at every turn.