Gold Miners Approaching Cycle Target

·1-min read

Prices are now collapsing into what should become the final cycle low. The terminal breakdown phase usually lasts about a week. We are very bullish on precious metals and miners long-term.

GDX DAILY

Gold miners are approaching our preferred cycle target. Prices could find a low within the next few trading days. I think we will see a tag of the lower trend channel or the 200-day MA. With gold trading at new all-time highs, the future for gold miners is bright. We expect much higher prices long-term.

GDXJ DAILY

The junior mining ETF is also approaching our preferred cycle target. We think juniors will outperform their senior counterpart (GDX) moving forward as they are more leveraged to silver and higher gold.

AG Thorson is a registered CMT and expert in technical analysis. He believes we are in the final stages of a global debt super-cycle. For more information, visit here.

This article was originally posted on FX Empire

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