Goldtent TA Paradise

Miners Showing Weakness ?

1. Karl says:

   December 18, 2019 - 6:04 pm at 6:04 pm

   You are of course right for even the fairly short term. Also, Barrick and Newmont behaved nicely today, as have others.

   However for the last ~2 days, in contrast to some of the preceding days, some of the producers’ prices sagged into or even below extremely short term moving averages, and some of the extremely short term moving averages sagged down. These movements tended to be within narrow Bollinger Bands. These sorts of pictures can precede downwards movements (could be harbingers of gold down to 1400) but equally can precede explosive movements upwards. Barrick seems to want to explode upwards and had a teensy explosion today. I think WPM looks as if it wants to bolt out and up, at least a little bit.

   Some of the smaller producers or explorer-developers have been doing not so well the last couple of days.

   This indecisive sort of movement perhaps with a slight negative overtone — yesterday more than today — was noticeable mainly because it contrasted with the more broadly positive movement of late last week. Not so many producers with prices above horizontal or upwards moving very short term as well as intermediate term moving averages. That’s all I meant in suggesting weakness. I don’t know about other people who have been suggesting weakness.