Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | UraniumSeek.com 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

GoldSeek Radio: Dr. Stephen Leeb and Arch Crawford, and Chris Waltzek
By: radio.GoldSeek.com

The Debt Train Will Crash
By: John Mauldin

A Macro (Amigos) Update for Mid-Summer
By: Gary Tanashian

Student Debt Bubble Expands As Parents Do More Of The Borrowing
By: John Rubino

U.S. ENERGY INDEPENDENCE?? Still Importing Nearly 8 Million Barrels Of Oil Per Day
By: Steve St. Angelo

War is a racket — and so is the state
By: George Smith

Gold Seeker Weekly Wrap-Up: Gold and Silver Fall Over 1% on the Week
By: Chris Mullen, Gold Seeker Report

Gold Standard Requirements And Currency Crisis
By: Jim Willie CB

Keith Weiner: Uncle Sam's Debt-Money System is Immoral, Tantamount to Theft
By: Mike Gleason

COT Gold, Silver and US Dollar Index Report - July 13, 2018
By: GoldSeek.com

 
Search

GoldSeek Web

 
GDXJ Signals that MAJOR BREAKOUT and STRONG PM SECTOR ADVANCE IMMINENT...

By: Clive Maund

 -- Published: Thursday, 19 June 2014 | Print  | Disqus 

Most investors or would-be investors in Precious Metals stocks are so soured by the seemingly interminable bearmarket in the sector, that has gone on for 3 years now and been made even worse by its having unfolded against the background of a rising stockmarket, that they won’t see the major opportunity now being presented, even when it’s as plain as the nose on your face, which it is. This is a bit sad really, because huge profits look set to be reaped by those buying the sector now.

The charts below make it crystal clear that we are on the verge of a major bullmarket advance across the PM sector. While these charts are for the Market Vectors Junior Gold Miners ETF, GDXJ – what happens to this has major implications for the whole sector, for the simple reason that this is not going up without the entire sector going up too.

The 5-year chart clearly shows an orderly 3-year long bearmarket, with a Head-and-Shoulders bottom forming over the past year, that is now at the point of completion. The volume pattern is strongly bullish, with the persistent heavy volume all this year being a sign of a bottom, and the record volume last week as the price rose up out of the Right Shoulder of the pattern marking the start of an expected breakout drive out of the base area, and out of the downtrend – a development that can be expected to trigger a wave of buying and sharply rising prices – last week was only the beginning.


We can see the Head-and Shoulders bottom in much more detail on the 2-year chart. There was huge record volume on last week’s rise out of the Right Shoulder low of the Head-and-Shoulders bottom pattern, that caused volume indicators to spike quite dramatically. This is VERY bullish price/volume action. We were looking for this sort of development in the PRECIOUS METALS SECTOR KEY UPDATE – it’s always darkest before the dawn, posted on the site on 22nd May.


The short-term 6-month chart shows that GDXJ has become short-term overbought after last week’s sharp rally, but that is not expected to stop it for long – after consolidation or a minor reaction it should continue to make strong gains.


In response to all this we yesterday looked at a range of promising silver stocks on the site, starting with silver stocks because they are the most volatile. Next we will move on to look at a range of gold stocks.

http://www.clivemaund.com/index.php


| Digg This Article
 -- Published: Thursday, 19 June 2014 | E-Mail  | Print  | Source: GoldSeek.com

comments powered by Disqus

Web-Site: CliveMaund.com



 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2018



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on GoldSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer

The views contained here may not represent the views of GoldSeek.com, its affiliates or advertisers. GoldSeek.com makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of GoldSeek.com, is strictly prohibited. In no event shall GoldSeek.com or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.