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

Frustrated by the Dormant Silver Price? Donít Be, Says History, the Upsurge Is Coming
By: Jeff Clark

Avoiding the Obvious
By: Theodore Butler and Jim Cook

SWOT Analysis: Hindu Celebration Could Push Gold Price Higher By 10 Percent
By: Frank Holmes

Technical Scoop - Weekend Update Apr 23
By: David Chapman

Silver Squeeze, Gold Fails, And GDX Breadth
By: Jordan Roy-Byrne CMT, MFTA

Liquidating Civilization
By: Keith Weiner

China Plays It Cool
By: John Mauldin

Inflation, With a Shelf Life
By: Gary Tanashian

A dramatic upward reversal in US monetary inflation
By: Steven Saville

WAITING FOR THE BUY SIGNAL: Whatís Going On With Silver Investment
By: Steve St. Angelo

 
Search

GoldSeek Web

 
Another Big Move Up Coming in Mining Shares


 -- Published: Wednesday, 5 March 2014 | Print  | Disqus 

By Toby Connor, GoldScents

Now that the first leg off the bear market bottom has been completed the mining shares have been consolidating for the last three weeks in preparation for another leg up, and I expect the second leg will be almost as powerful as the first.

As gold is now late in its daily cycle I'm looking for one more dip down into Friday's employment report to complete the short-term correction. Then I look for gold's third daily cycle to test the $1425 resistance zone over the next month.

Over the next few days stocks should move up to test or more likely marginally break above 1900 before settling into a consolidation as they await the next FOMC decision on March 19. As stocks settle into this consolidation phase buying pressure will move back into the commodity markets and drive gold aggressively out of the impending daily cycle low.

Then when a third taper also fails to halt the slide in the dollar I look for a mini dollar panic during the second half of March that will drive a very powerful rally in commodities as they move toward an intermediate top.

As gold rallies out of its impending daily cycle low, and especially during the dollar panic later this month, the mining shares should deliver a very powerful second leg up in this initial thrust out of their bear market bottom. I expect GDX will at least test the August highs, and maybe even fill one or both of last April's gaps before the intermediate cycle tops sometime in early to mid-April.

I think traders need to enter initial positions before the close on Thursday, and if gold is down Friday morning after the employment report use the weakness to complete purchases as I think next week miners will break out of the consolidation zone and begin the second leg up of this brand-new bull market.

If you are interested in reading my daily and weekend commentary on the movement of the markets, along with accessing the changes in my portfolio positions in real-time and conversing with other investor/traders via my blog, please consider purchasing a $10 trial subscription.


| Digg This Article
 -- Published: Wednesday, 5 March 2014 | E-Mail  | Print  | Source: GoldSeek.com

comments powered by Disqus



 



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 - 2017



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.