Fundamental and Technical Market Analysis
For All Markets: Stocks, Commodities, Currencies, Cryptocurrencies
Updated At Irregular Intervals
I would rather be prepared and wrong
than to be unprepared but right!
Current Commentary -- Where Are We Now?
Friday, August 4, 2017 10AM:
Gold Stock Rally May Have Started - Part VII - Nope.
The jobs report came out as better than expected which caused an over-sold UD Dollar to rally sharply -- inverse gold therefore sold off sharply. Here's the best way to describe gold stock investing in this environment...
SBGL and NGD continue to hold their breakouts while AUY has retreated back to the upper (red) line that should now provide support. Let's see if that holds. Meanwhile KLDX puked lower as MUX's right shoulder is about to shatter. As I said yesterday I gave the new EXK shares a little wiggle room but bailed with a 14c loss -- waiting to re-deploy at a later time.
Gold stock bull market in progress? Confidence is not entirely lost, but it is clear that any material rally will not occur any time soon.
Return to the main CyclePro Outlook page.