Thursday, July 31, 2014

Quick update on PMs and miners charts


Charts!


GLD is still below its EMA, and is now below the SMA(50) too. This meets the criterion for a downtrend. Thus avoid.




SLV is also below the EMA, though still above the SMA. That darn gap in mid-June looks an awful tempting target, no? Scary, avoid.

And yet:


GDX valiantly refuses to break down below $26.



GDXJ valiantly refuses to break down below $41.

I dunno what to make of this.


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