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Another Tool in the Toolbox!


 -- Published: Friday, 22 December 2017 | Print  | Disqus 

By Peter Degraaf

Charts are fascinating!  They reflect human action.  We look at charts for direction, for support and resistance.  Here is a chart (courtesy Stockcharts.com) that is just now in the process of showing a buy signal for gold mining stocks.

http://www.goldseek.com/news/2017/chart%20one.jpg

Featured is $BPGDM.  This index rises or falls according to the bullish percentage among the stocks that make up the index.  At the top we have inserted GDX, the miners ETF.  In the past, whenever $BPGDM rose up from below 25 it gave a buy signal for mining stocks.  Notice how the blue arrows point to excellent timing.  The supporting indicators at the bottom (CCI and Slow Sto) have just turned positive, to provide confirmation.

Peter Degraaf is an investor with over 50 years of experience.  Google him or visit www.pdegraaf.com

DISCLAIMER:  Please do your own due diligence.  Peter Degraaf is NOT responsible for your trading decisions.

 


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 -- Published: Friday, 22 December 2017 | E-Mail  | Print  | Source: GoldSeek.com

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