Loading ...Does Gold/GDX action seem lethargic to anyone?
My charts now show price officially being above the 2011 downtrend line on Gold. For GDX I also have price above the triangle/wedge going back to earlier this year.
For such a big milestone “breakout” does this price action seem lethargic to anyone? Maybe its just me…
Maybe I’m like the dog that finally caught the car….I don’t know what to think of it?
Rally is geopolitical event specific (not financial), and won’t last if defused because the liquidity tide is now going out.
And if its not defused … we all get vaporized anyway?
It’s almost as if the miners haven’t noticed the ‘historic breakout’. Perhaps $1300 Will start the fireworks. Either way, I’m confident We’re heading up significantly over the next 6 months.
Still very low vol as big money traders and fundi’s still in the Hamptons. End of August-early September is when we bust-a-move higher IMO.
All great points. I’m hopping cautiously long for now – unleveraged instead of usually using a leveraged etf.
Meanwhile, fresh new highs as gold limps along.
Grrr
…bitcoin…