Wednesday, April 23, 2014

GOLD-MINERS-SILVER- Who is leading?

Gold and Silver are sitting on their resistance at 1280-5$ and 19-19,5$ respectively.

But the miners (GDX) seem to bounce after hitting resistance at 23,5$ and stopped at 21 day EMA(Exponential moving average)

Is GDX going to pull Gold (and Silver) up?
Is GDX currently forming the right shoulder of an inverted head and shoulder formation?

Probably we will know next week...