Gold and Silver Miners and the U.S Markets. Message Board

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Gold/Mining/Energy : Gold and Silver Miners and the U.S Markets.

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To: bostma who wrote (1861)	6/23/2014 10:14:19 AM
From: Robov	Read Replies (1) of 1954

Well from a technical perspective both gold, and silver more so, are overbought. As is GDX and GDXJ was overbought but has worked some of that off on last weeks correction. That said momentum can keep overbought conditions going longer than would otherwise be the case, but at some point these conditions will need to be worked off to have a healthy move higher at some point. As far a Bo and his analysis goes I would suggest checking out his past calls and there accuracy. You can drive yourself crazy reading the multitudes of analysis as some are bearish like B of A's Curry still calling for sub 1180 gold by the end of the year and others calling for 2,000+ by the end of the year. One might be right and both could be wrong. One thing I am sure of though based on the weekly H & S bottom I've been tracking on the GDX/GDXJ is that the miners have put in their lows and will see higher prices as the year progresses. The massive increase in volume, record volume I might add, is what tells me they have reached a bottom and are being aggressively bought. Here is the latest chart I posted at the end of last week with an updated analysis. Message 29591163

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