Wednesday, July 22, 2015


Recently Gold and Gold Miners were heavily hammered.
2 weeks ago we wrote about the current move of gold predicting a move towards 1190-1110 (Ready for a Goldexit?)
Currently Gold paused temporarily at 1190-1110 level.
Although we believe that continuation of the downmove is very much probable, bulls will have a last chance if we see an immediate move above 1135 level.

Regarding miners GDX, we wrote 1 month ago that there was a good possibility for a -35% move of GDX towards 11(Another 35% fall for Gold Miners(HUI,GDX)).

We still believe that GDX is moving towards 11-ish.
Last chance for bulls a quick move above 15.5-16.