Cards are heavily stacked against metals in the medium term from a technical perspective. Maybe they can prove me wrong. While the gold miners could certainly rally here, I am not expecting another major leg up until the second half of this year. If it turns out I am wrong, great, as I am holding.
Couple of things suggest to me that I am right. First the gold miners have broken down in a major way vs the Dow, and there is major cloud resistance now that extends out at least until the second half. Second, the 200 day bollinger bands need to come in quite a bit still, IMO, before a sustainable upleg can occur. Again, is it possible that the HUI could rally in the short run? Absolutely.
Anything is possible but the biggest factor for me is the breakdown in gold and miners vs the Dow in January. It strongly suggest that this year is going to be an up and down slog.
Cards are heavily stacked against metals in the medium term from a technical perspective. Maybe they can prove me wrong. While the gold miners could certainly rally here, I am not expecting another major leg up until the second half of this year. If it turns out I am wrong, great, as I am holding.
Couple of things suggest to me that I am right. First the gold miners have broken down in a major way vs the Dow, and there is major cloud resistance now that extends out at least until the second half. Second, the 200 day bollinger bands need to come in quite a bit still, IMO, before a sustainable upleg can occur. Again, is it possible that the HUI could rally in the short run? Absolutely.
Anything is possible but the biggest factor for me is the breakdown in gold and miners vs the Dow in January. It strongly suggest that this year is going to be an up and down slog.
I beg to disagree Sir Nautilus.
This is the biggest driver now. What an excellent article!
https://independentspeculator.com/the-fed-is-caught-in-an-inflation-death-spiral-thats-bullish-for-gold-and-silver