From Gold Scents:
In my last post, I hypothesized that the bear market in stocks had finally sunk its teeth into the precious metals sector.
I was looking for a final move down into a true D-wave bottom, coupled with the HUI dropping down to test the 200-week moving average. I could not have been more wrong!
Instead, gold formed a double bottom at $1600 and yesterday confirmed a trend change to a pattern of higher highs and higher lows.
As is usually the case, the miners played "follow the leader" and reversed their downtrend also...
Read full article (with charts)...
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