Commodity Trade Mantra

Posts Tagged ‘Technical Bottom’

Gold Prices Are Breaking Out; Goldman Stumped

After a long time, the Philadelphia Stock Exchange Gold and Silver Index has broken out on an absolute & relative price basis to put in what appears to be a meaning bottom that is bullish for gold and silver mining stocks. We maintain this bullish view as long as the absolute & relative price trends hold above the weekly moving averages, which should provide support on pullbacks.

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