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XAU - Gold and Silver Miners - Buy

Long

PHLX Gold and Silver Sector Index (NASDAQ:XAU)

NASDAQ:XAU PHLX Gold and Silver Sector Index

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This sector could have bottomed out.

Same supporting level than al bottoms since the 80's.

After a correction of 73%

Buy 5% and keep in the back book for the long run

Comments

Oooh yes, if the trend channel is valid and price breaks away from that accelerated downtrend channel,
observe how the price will behave in that small black triangle in smaller timeframe

Allow me to intruded into your chart... I made this EW count and I tend to agree with you - that a bottom could be in. My only "aber dabei" is there is no confirmation yet. We need to see a move above 75.42.