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Could this be a False Breakdown that launches the Next leg up ?
The XGD is a good proxy for the PM Miners. It usually has crisp chartology
It is the only PM Index to have broken down…the others are still in the pattern
Fingers Crossed that this reverses and we get a sling shot move.
This “correction” has been like Chinese water torture for PM Miner Holders
Damn China again
🙁
XGD was delisted from ownership by US citizens about a week ago. My guess is that investors are pulling their money and moving to different vehicles. So far I haven’t found any reasoning as to why the SEC will no longer allow it to be purchased in the USA…….anyone know why???? Rambus?????
XAU showing some clues
https://www.tradingview.com/x/fooUgMnV/
gld tightening up
https://www.tradingview.com/x/yeZ304ki/
Kewl2’s explanation makes sense as the reason why. As far as the Chartology, there was a small gap back in June just below where the breakdown occurred. Could explain nothing to be concerned about.
I don’t think many Americans own XGD…It’s very similar to GDX et all.
The only real difference is the currency thing as the Canadian Dollar Strengthens XGD has a tail wind