Commodity Trade Mantra

Posts Tagged ‘Bearish Sentiment’

Silver And Gold Stocks Dangerously Close to Breakdown

The implications of continued poor performance from Silver and the gold miners could be two fold. First, they could be hinting of Gold’s strong potential to decline to major support around $970/oz. Second, and with respect to the mining companies, their poor performance coupled with lower metals prices increases the risk of some major bankruptcies in the sector.

Gold Price Declines and the Grave Dancers

We regard the excessive grave dancing & the utter conviction with which gold is declared to be “doomed” as an outstanding contrary indicator. It means that a major trend change has to be very close. This is not to say that gold cannot fall further in the short term – but the long term outlook has greatly improved by the three waves of extreme bearish sentiment we have seen since 2013.

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