Loading ...HUI
PM Miners do seem to be sold out.
There is no downside momentum even on days when Gold is Down
This is not to say a rally is imminent
But IMO this is encouraging for those buying here.
Plunger has been an advocate for accumulation based on this low volume long consolidation period.
he has been discussing this phenomenon at the Chartology Forum .
I am starting to see his point.
My charts say they aren’t sold out at all.
At some point in the next few weeks, perhaps mid month perhaps a bit after,
I have multi month sells kicking in.
The setups are there … waiting.
For what, and precisely when, I don’t know.
There’s been no traction either way …. for a long time.
My expectation is that the resolution is down. Watch ABX.
Do not agree, I see several juniors spiking todat, meanwhile other charts rem
Do not agree, I see several juniors spiking the last days, meanwhile other juniors charts remain very ugly, so it is a mixed bag with maybe 50% already bottomed. Some buys I did last weeks are nice in the green already and others still break-even. I think we are in bottoming times with GDX 21-22 as max downside damage, and several junior completely oversold.
Remember that Gold is the Cycle Driver. A close below the 10ma would not be a good sign, IMO.
https://www.youtube.com/watch?v=mv9cWgkpIZ4