Gold miners: it's time to buy

Gold miners: it’s time to buy

> Both US political parties enjoy referring to their horrifying debt and money printing programs as “ economic stimulus ”. They sound like characters in a George Orwell novel, which is quite disturbing.

Of course, their insane actions are great news for gold. Double-click to enlarge this daily gold chart.

Basis “ Edwards and Magee ”, there’s now a breakout from a third fan line. It’s a solid technical green shoot.

The modest support zone defined by the mid-August low of about $1874 has held well. It’s fueled some decent rallies, including the current one.Double-click to enlarge. In the short-term, gold is struggling to break through the $1925 light resistance zone. That’s only a minor issue, as is the fact that Tuesdays are often a soft day for gold. The bottom line is that the medium and long-term charts look great. Double-click to enlarge this horrifying […]

About the author: StockMan

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