It is very important that recent break out to the upside in Gold price is confirmed by move Up in Gold Miners GDX, HUI, XAU. Chart is looking very strong: MA50 was overtaken on one breath. Rising appetite for equities is multiplied here with rising Gold price. Sector is so small, all miners GDX cap being around One Hundred Billion dollars, that money inflow could quickly bring it back above MA 200 when Technicals will confirm Bull is alive in this market.Saturday, November 29, 2008
Gold Miners GDX are confirming Gold move to the Upside. GDX, HUI, XAU, AUY, ABX, SSRI, SLW
It is very important that recent break out to the upside in Gold price is confirmed by move Up in Gold Miners GDX, HUI, XAU. Chart is looking very strong: MA50 was overtaken on one breath. Rising appetite for equities is multiplied here with rising Gold price. Sector is so small, all miners GDX cap being around One Hundred Billion dollars, that money inflow could quickly bring it back above MA 200 when Technicals will confirm Bull is alive in this market.
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