Sunday, April 6, 2014

Gold and Gold Miners-Last bying opportunity?

Gold:We think that gold may have another leg down towards 1240$. RSI14( weekly) should fall a little bit further (red circle) towards 42 where it will touch the rising trendline(green) and probably bounce.Further fall of gold price(below 1240$) or rsi(below 42) will put the immediate bullish scenario under stress.

Same scenario for Gold Miners(GDX)

Another leg down towards 22(+)$ where it should probably bounce towards 31$
 RSI14(weekly) should move towards 40 and bounce