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Before I give up the Technical Analysis charts on a few Miners’, please revisit what I discussed on May 16 about the USD vs Gold & Silver.  Here is the Weekly chart from that article…

Here is the USD Weekly chart as of the Friday June 2 close…

Gold & Silver have had a nice bump following lackluster economic data releases and USD plunge, but a majority of Mining Stocks are still getting whacked lower or chopping sideways since July 2016.  Houston, we have a problem and it’s called DIVERGENCE.  For roughly 2 weeks the Mining Stocks are falling as Gold & Silver are rising.  The Miners’ & Gold don’t always track neck and neck because they’re two different animals, but the current Divergence sticks out like a sore thumb on the charts.  It will be rectified sooner than later with all eyes on the 2011 Gold Trendline.  Below are the GDX & GDXJ ETF’s vs GLD as of the Friday June 2 close…

After sorting through a few hundred Mining Stocks on my watch list, I pulled three that are looking upbeat.  My primary criteria is VOLUME.  At minimum I want to see several million+ shares traded per day, no dead minutes.  LIQUIDITY is very important.  The last problem you want is to be sitting on a thousand share lot with a bid/ask flow giving you the middle finger.  A Trader or Investor must be able to liquidate and/or purchase without issue.  My next criteria are technical indicators & company fundamentals.  If you follow my charting for awhile you’ll discover the niche.

For this week, keep a close eye on $KGC Kinross Gold, $IAG Iamgold and $GOLD Rangold Resources.  Here are the charts…

Plan Your Trade, Trade Your Plan

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