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A Few Good Signs from the Gold Miners, But Not the Metal

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Gold is at a critical level, testing trend support at xxxx (subscriber version). Updated cycle projections now point to a low of xxxx-xx, with the time window xxxx (subscriber version). The 9-12 month cycle is still in a flat down phase, but it could get much worse if it breaks xxxx (subscriber version).

The Mining Stocks Index (HUI) 9-12 month cycle momentum has reached the level of past lows since 2017 as HUI ticked the bottom of its major downtrend channel. Failure to hold here would be bearish, with the next target xxx-xxx. Conversely an uptick here would be bullish (subscriber version).

Today’s swing trade screen was unqualified good news for the short term outlook. It yielded 25 buy signals and just 1 sell signal, with 26 stocks rendering no new signals. Since there now seems to be a prospect of some recovery, I chose two of the 25 buys to add to the list this week, shown below (subscriber version).

I have included failsafe stoploss prices for those, and adjusted the stop for one of the existing picks.

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Posted in 3 - Gold Trader
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