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The HUI Index of gold mining stocks closed below 200 today. The downtrend in the gold mining stocks remains intact. The key will be to watch is how LOW do the mining shares go!
I have my eye on the LOW on July 25th of 192.45. If the HUI closes below this level then get ready for another leg to the downside.
Gold has started to roll over!
Silver is diving deep!
So with the recent action in the precious metals it is clear that the downtrend remains intact. The key is to watch last month's LOW. If the metals break those lows then down the tubes the precious metals go!
If the metals can establish a HIGHER LOW then we may finally have an end to the downtrend which can only be nullified IF the recent HIGHS are taken out. The key to this game is patience and as of right now I see nothing "BULLISH" in these markets.
Peace out and stack on!
And I am out of powder, I have to fix bilge water damaged to my lower crew quarters deck of my ship and update it to code. A pretty penny.☠️
So we might be getting some good deals coming, I'm always looking for a good excuse to get more
That's good to know about the prices of mining shares. The lower they go, precious metals are in for a bumpy ride too !
The FED is at the helm and the dollar is killing metals.
Yeah, the Fed is crazy hawkish right now. But decision to pivot could be just a few months away after the mid-term election
Gold seems to be bleeding as day goes by 🙂 I was thinking we can see gold at $1800 before the month ends
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