The CrushTheStreet Staff Is Consistently Researching The Most Important Investment Research. Our Goal Is To Magnify Your Financial Education At These Critical Times. Gain Immediate Access To Our Wide-Range of Top-Conviction Reports HERE!

Admittedly, this article is addressing traders with a short to medium term horizon. We believe an interesting opportunity is arising to pick strong miners. Our argument is based on the gold chart and an important trendline we have noticed.

Spot gold is shown on the first chart. The interesting indicator is the RSI, at the top, with a reading of 37 currently. It also shows that gold was oversold (red circle) a month ago. Meantime, spot gold has come down and is currently at an appealing level. An RSI reading of 40 in an uptrend is mostly a buying opportunity.

Gold And Miners At An Attractive Point

The gold futures chart shows an even more interesting evolution. As the next chart shows, gold futures bounced strongly right at the ascending trendline. That coincides with the RSI 40 reading in spot gold.

gold futures

Traders should watch this price level very closely. It is mandatory for gold bulls that $1200 spot gold is not breached.

The most appealing opportunities are currently in the gold mining complex. Some miners in the sector are holding up very well. This outperformance is not widespread though, so stock picking is crucial. The last chart gives an idea of how strong some miners are performing currently. Note how these miners are trading right at their crucial moving averages. A breakout or breakdown signal will be linked to the price action around those moving averages.

miners

Gain Immediate Access To Our Wide-Range of Top-Conviction Reports HERE!


Compound Your Wealth Daily
All Rights Reserved © Crush The Street, 2017
Gain insider knowledge and stay out in front of the trends!
You will receive an email with the link shortly.
Get the Exclusive Report on how to profit from Cobalt now!
** Press Enter To Submit if Subscribe Button Missing
Compound Your Wealth Daily
All Rights Reserved © Crush The Street, 2017
Gain insider knowledge and stay out in front of the trends!
You will receive an email with the link shortly.
Get the Exclusive Report on how to profit from Cobalt now!