Prices are now collapsing into what should become the final cycle low. The terminal breakdown phase usually lasts about a week. We are very bullish on precious metals and miners long-term. GDX DAILY
Gold miners are approaching our preferred cycle target. Prices could find a low within the next few trading days. I think we will see a tag of the lower trend channel or the 200-day MA. With gold trading at new all-time highs, the future for gold miners is bright. We expect much higher prices long-term. GDXJ DAILY
The junior mining ETF is also approaching our preferred cycle target. We think juniors will outperform their senior counterpart (GDX) moving forward as they are more leveraged to silver and higher gold.
AG Thorson is a registered CMT and expert in technical analysis. He believes we are in the final stages of a global debt super-cycle. For more information, visit […]
October 30, 2020 (updated October 30, 2020) Published by StockMan