Loading ...Bigger Picture Remains Down for Gold & Miners
Gold up days are so much weaker volume than down days.
Gold lost $26 this week and note the volume pattern:
GLD chart suggests bearish flag in a down channel in shorter term. Note bearish volume pattern.
NEM weekly….down 5.3% this week on monster volume. Looks at last several weeks volume spikes….all red.
Nice fork fits on gold…..wild guess but $1013 by Nov?
HUI down 8.3% this week. Wake me up when resistance starts becoming support!
GDX – this looks bullish? Prices finally managed to slip back inside the Bband today.
GDX weak relative to gold and showing bearish structure.
Lots of miners looking like this. very bearish structure.
This is a bullish weekly chart? Monster volume, down more than 7%
DUST has backfilled a thinly traded zone and is ready to move back up now.
Thanks for the charts, it will give me something to do over the weekend! Now I am long at the moment, but if the price and short term indicators turn down here at resistance, then it is back to the short side. If there is still a lot more down to go, great — but these rallies against the trend are brutal!
I agree. Monday should be a down day. Im thinking 5-8 bucks..nothing huge
Excellent Commentary and Charts Mark
You are a unique analyst
Your work is much appreciated
Fully
Great charts Mr. Mark