Wealth Creation Through Natural Resources
Gold marginally broke below support on Friday, breaking down from a small H&S top pattern: The breakdown from this pattern targets a test of the March lows ($1140-$1150). However, the “break” was not as clear or as powerful as we … Continued
GDX is on the brink of one of most anticipated “breakouts” we’ve seen in quite a while: There is a lot going on in the above chart and the situation is by no means clear. Here is some of … Continued
The chart of Apple (AAPL) has formed a small descending triangle during the past few weeks as it begins to slip below its rising 50-day simple moving average on decreasing volume: The key downside level here looks to be … Continued
Gold miners as represented by the GDX are threatening to fall for the 6th consecutive trading session after they were once again repelled near the $20 support/resistance level: A fun fact is that even during the gold mining bear … Continued
Less than 10 days ago the gold miners were being pushed to the brink of collapse as gold waffled in the mid $1100s. This morning after an impressive rally to finish last week the gold miners are back to being … Continued