$GDX, $GDXJ and $SIL could soon test moving averages which have been resistance for the past 13 months @MasterCharts

The gold and silver stocks have rebounded nicely but have consolidated in recent weeks. Where is this going and how do we know? Well, a few weeks ago we publicly said that a major bottom is in. Thus, we believe the trend will go higher. Beyond belief, we need real confirmation that the sector will continue higher. Enter moving average analysis. By using a few simple moving averages we can better understand the current context and get confirmation that the sector will continue to move higher. GDX, GDXJ and SIL could soon test moving averages which have been resistance for the past 13 months.



The MasterCharts: Moving averages point the way for #gold, #silver stocks

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