Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Gold Miners Indicator Flirts With Multi-Year Breakout

ByChris Kimble
Published 12/06/2019, 03:52 PM
Updated 07/09/2023, 06:31 AM
Junior/Senior Miner Ratio

Are gold-mining stocks about to get a bullish signal they haven’t seen in years?

It is entirely possible.

The chart above looks at the Junior/Senior Miners ratio (GDXJ/GDX) over the past few years. Historically, when the ratio is heading up, miners tend to do very well.

The ratio has created a series of lower highs just below the falling line (1) since the summer of 2016 and is currently testing the strong falling resistance line and the June 2019 highs at (2).

If this ratio succeeds in a double breakout at (2), it will send the miners a long-awaited bullish message.

Latest comments

Shouldn't this thing get pushed down with the consolidation actions? In other words, less juniors more seniors. Also, there is significant downward pressure on new finds for the forward markets. Without new finds, no juniors can start. Only seniors can consolidate till the gold is gone. We are around peak gold now.
Juniors cannot start without new finds
would need a catalyst to push through. Without a catalyst for buyers, I'd be more inclined to short back down to support. the convergence of trend & support looks like it's several days away at least..
that graph above has the same set up half a dozen times....not to mention gold is down more than 18 dollars even as I write this..........lol
You are all about to be disappointed... it will be rejected.
You buy DUST?
Let's keep our miners happy.
Price of gold going forward is strongly related to the ongoing trade wars and while I do believe there is validity in technical analysis, I do not see much validity to the theory and/ or charting with respect to this article.. If progress is made with the trade war between USA and China going forward, gold will likely keep trading sideways, just as it has, with perhaps a slight upward bias.  Just my opinion.
British elections will bring the world to its knees next week
what does that mean?  you think metals will rise up?
the " humbug " was aiming to this
I agree with you and if the breakout happen it will fly more over 2000 i think
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.