Gold and gold miners are at a critical point where they have either topped or are near the top.
At this quarterly chart, Gold made a higher high while GDX (which is weaker than Gold) made a lower high. The higher high (false breakout) in Gold registered lower RSI momentum on the quarterly chart (with 1 more week to finish this candle) showing it is most likely a 3-3-5 flat. We may expect a strong crash in metals soon.
At this quarterly chart, Gold made a higher high while GDX (which is weaker than Gold) made a lower high. The higher high (false breakout) in Gold registered lower RSI momentum on the quarterly chart (with 1 more week to finish this candle) showing it is most likely a 3-3-5 flat. We may expect a strong crash in metals soon.