Gold Struggling at $2000 Resistance but Miners Look ST Bullish
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Gold failed to make a new monthly all-time high for October and is struggling around resistance at $2000. Its showing distribution. However, the gold stocks are showing bullish head and shoulder bottoms (especially GDX).
We explain how this dichotomy could play out.
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Jordan Roy-Byrne, CMT is a Chartered Market Technician and member of the Market Technicians Association. He is the publisher and editor of TheDailyGold Premium, a publication which emphasizes market timing and stock selection, as well as TheDailyGold Global, an add-on service for subscribers which covers global capital markets. He is also the author of the 2015 book, The Coming Renewal of Gold’s Secular Bull Market which is available for free. TheDailyGold.com was recently named one of the top 50 Investment Blogs by DailyReckoning and WalletHub.
