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Battered Miners Ready To Recover?

Published 07/17/2014, 01:11 AM
Updated 07/09/2023, 06:31 AM

Poor old Gold has had a rotten week so far. Even yesterday’s attempt to undo some of the damage is getting partly reversed as I am typing this.

I would point out that miners might – I say again, might – have eased down to a level that represents a reasonable risk/reward ratio. I, for one, am avoiding precious metals altogether right now, as the beautiful bullish breakout intact as of Friday’s close has been smashed to smithereens. Here's the Market Vectors Junior Gold Miners ETF (ARCA:GDXJ) chart:

GDXJ

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