I wrote about my thoughts on Gold, Silver and their respective miners here. Close to two months later, my targets are close to being hit. I took some slack on StockTwits for my call. We’ll as these targets are being hit, I see an even more interesting development. One which will lead to lower prices in my opinion.
There is a theme in all there of these:
-Head and shoulder patterns
-Oversold momentum range
-Big selling volume
-Below a rising 200dma
Miners lead gold. The downside acceleration is proof of whats to come in gold.
Gold Target- 1,140
Silver Target – 15.30
GDX Target – 16.50
Look for backtests to get short/add to already engaged positions.