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Unless a dovish tone comes out of the Jackson Hole symposium later this week I'm afraid I see the miners breaking down from this ascending wedge to test that 21.94 price tag which is the key 61.8% fib retrace of the summer rally and support/resistance throughout since the spring of 2016.
All this patriotic war clamouring might be good for the dollar as well as a market rebound with traders buying the dip.
I hope I'm wrong but a pullback here will perhaps be your last buying opportunity. I know ... how many times did you hear that before. Look, the way this world is going ... holding some miners will not hurt.
The speech outta the Jackson Hole might not be hawkish and the metals will soar ... who knows. The gold bulls might be holding their ace in the Hole.
Gold mine is on the upward trend, and definitely in major run now. Look at HUI index, broke 200 and it's on 201 now
While many people doubt Gold won't break 1300 this time, it actually really doesn't matter for GOld mine to start major run, because it's just question of time for Gold to break 1300.
Don't time the market and loss the major run
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