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Here's How I'm Playing The Precious Metals

Published 08/28/2018, 02:13 PM
Updated 07/09/2023, 06:31 AM

Gold, silver and precious metals miners have been bouncing lately (I suggested going long miners on the 16 to my PLUS subscribers, which I’m glad to say was the exact bottom). I still think they have room to run, but for the more nervous folks out there, I wanted to point out that an important price gap is quite close. In addition, as the gold sector chart shows below, the moving averages have entered into full-blown collapse mode.

Philadelphia Gold/Silver

Philadelphia Gold/Silver

For anyone who thinks the bounce in metals has run its course, the instrument DUST (triple-bearish on miners) could be an interesting way to go. It has a very well-formed bullish base and came extremely close to closing its own price gap, which I’ve pointed out with an arrow below. I say again, I think miners have more room to run and I’m thinking both of these gaps will get swept aside.

Direxion Daily Gold Miners Bear 3X Shares

Latest comments

NUGT.....
This is not even moral .
Have some sense
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