Big Bear Markets such as the decline into the 2016 low for the miners breed big bull markets. These unloved countercyclical investments have significant potential for long term gains.
Such a clear down trend with overhead resistance are key charts worth keeping an eye on. This week we have a clear breakout. Decent volume for gold and GDX are solid confirmations.
Today the xau gold stock index rallied to peak at a .382 of the long term decline and it also rallied in an abc form as well as having two equal legs up I am now short the gold sector in xau using dust today I was filled at 22.25 .I see the gold index declining to a new low into mid feb