Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG Message Board

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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG

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To: Wade who wrote (45661)	7/13/2013 4:10:03 PM
From: Wade	Read Replies (1) of 48092

I decided to find out if there are leading indicators from the miners in this so called 'recovery" bounce by using Ichimoku charts. First, I use the GDX as the benchmark. The chart looks like this: The green cloud is bullish and the red cloud is bearish. stockcharts.com You can see that the price is still under the bearish cloud. That tells us the market is not ready to turn yet. However, the AG chart is giving a little different message: stockcharts.com Its prices is piercing the red cloud. When it is above the red zone it will signal a bull run. You also can notice the green/red lines are going to cross over in August which means AG is heading higher. This is an interesting forecaster in this chart. Other strong miners such as TGD and BTG shown similar patterns as does AG. You can check out your own miners using this tool. Introduction of Ichimuko chart: stockcharts.com Have fun.

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