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When looking back on assets to avoid over the past 5-years, mining stocks sure come to mind, as they have done terrible, losing nearly 80% of their value. When looking back over the past couple of months, they have been one of the best assets to own. Earlier this year, the Gold Bugs index created a series of lows around the 100 level. The Gold Bugs index created a reversal pattern (bullish wick) at (1) above. Following this reversal pattern, mining stocks blasted off. Now the Gold Bugs index is testing a triple resistance zone at (2) and could be creating a weekly bearish reversal pattern (bearish wick). Joe Friday Just The Facts…Dangerous place for mining stocks, should a reversal pattern take place at (2).
When looking back on assets to avoid over the past 5-years, mining stocks sure come to mind, as they have done terrible, losing nearly 80% of their value.
When looking back over the past couple of months, they have been one of the best assets to own.
Earlier this year, the Gold Bugs index created a series of lows around the 100 level. The Gold Bugs index created a reversal pattern (bullish wick) at (1) above. Following this reversal pattern, mining stocks blasted off.
Now the Gold Bugs index is testing a triple resistance zone at (2) and could be creating a weekly bearish reversal pattern (bearish wick).
Joe Friday Just The Facts…Dangerous place for mining stocks, should a reversal pattern take place at (2).
It would appear that DUST is attractive, at $2.33 the risk/reward looks great, or what am I missing?
jrocean
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Kimble - on gold bugs
Posted by sbaxman111 on 15th of Apr 2016 at 10:26 am
Gold Bugs- Potential bearish reversal at resistance, says Joe Friday
When looking back on assets to avoid over the past 5-years, mining stocks sure come to mind, as they have done terrible, losing nearly 80% of their value.
When looking back over the past couple of months, they have been one of the best assets to own.
Earlier this year, the Gold Bugs index created a series of lows around the 100 level. The Gold Bugs index created a reversal pattern (bullish wick) at (1) above. Following this reversal pattern, mining stocks blasted off.
Now the Gold Bugs index is testing a triple resistance zone at (2) and could be creating a weekly bearish reversal pattern (bearish wick).
Joe Friday Just The Facts…Dangerous place for mining stocks, should a reversal pattern take place at (2).
gold
Posted by jrocean on 15th of Apr 2016 at 11:05 am
It would appear that DUST is attractive, at $2.33 the risk/reward looks great, or what am I missing?
jrocean