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Rookie398476049358670
Jun 7, 2018 12:15 AM

Miners on the brink of a huge breakout 

VanEck Junior Gold Miners ETFArca

Description

Miners have continued to grind around. However, the underlying OBV is telling us that big money is starting to build their positions through high volume up days. Any trigger, such as ECB QE decision or FED rate hike decision or reversal of USDJPY, or the break of the broad market, could shoot the miners up into the sky. Plus it has been confirmed by CMF, the positive value of which shows that money is now flowing into the ETF.

Comment



GDXJ volume trend intact! Not bearish at all.
Comments
pmcllc
yeah it looks like it, it has been coiling in a triangle for months! So accumulation by smart money happening?
Rookie398476049358670
@pmcllc, could be. COT report is showing increasing long positions by large speculators. But price action is all about BAM BAM BAM

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