After over almost a decade of pulling back and consolidating we now have the goldbugs chirping louder than ever. Gold has broken through the resistance of 1350 and 1420 and has skyrocketed towards all time highs. From that break if you have not stayed with it then it has been hard to get back in. I was in the GDX gold miners for a while from the upper 20s and low 30s and sold a week or so ago and it has just kept going. What a weekly Ripper!
This chart is one that many of the gold bugs have been waiting on for the past 10 years. Does it break out here and just keep going? Or does Gold find resistance here and pullback?
What’s the call?