Gold Miners Likely Topped and should get Obliterated further
GDXJ failed to close above a key resistance level of $30.70 on Friday and it is highly likely that for the month of April, the miners (and Gold and Silver) have topped. At this point if you follow my ideas, Gold will sell for liquidity in the near-term for the second wave of the downfall of equities.
Investors should remain totally on the side-lines for the miners for much of the month of April.
Come towards the end of April and into early May we can start to look for key bottom opportunities. However, in the near-term, the miners will be decimated.
Note: When we start to get quarterly re-balancing near the end of March (i.e. next week), we can expect more sharp sell-offs not only in the commodity of Gold and Silver, but the mining stocks themselves (and equities).
- zSplit
Investors should remain totally on the side-lines for the miners for much of the month of April.
Come towards the end of April and into early May we can start to look for key bottom opportunities. However, in the near-term, the miners will be decimated.
Note: When we start to get quarterly re-balancing near the end of March (i.e. next week), we can expect more sharp sell-offs not only in the commodity of Gold and Silver, but the mining stocks themselves (and equities).
- zSplit