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Monday, July 17, 2017 12:42:16 PM
GOLD MINERS BULLISH PERCENT INDEX
The Gold Miners Bullish Percent Index ($BPGDM) is a gauge of overbought and oversold conditions for the gold mining sector. It is a breadth indicator based on the number of stocks with Point & Figure buy signals (a Point & Figure chart emphasizes strong moves while ignoring small ones) within this index.
The Gold Miners Bullish Percent Index's range varies between 0 and 100. Generally, a reading below 30 indicates oversold conditions in the gold mining stocks sector, and a reading above 70 indicates overbought conditions. This indicator is used as a tool to decide when to buy or sell gold mining stocks, but since gold stocks very often move in tune with gold or silver, it can be a useful tool when determining the direction of the entire precious metals sector. The index can be used in conjunction with a gold price chart, or multiple other tools, to watch for additional confirmations of a trend.
On this chart I'm comparing the ULT...stochRSI and the 10 day moving average...
$BPGDM
The Gold Miners Bullish Percent Index ($BPGDM) is a gauge of overbought and oversold conditions for the gold mining sector. It is a breadth indicator based on the number of stocks with Point & Figure buy signals (a Point & Figure chart emphasizes strong moves while ignoring small ones) within this index.
The Gold Miners Bullish Percent Index's range varies between 0 and 100. Generally, a reading below 30 indicates oversold conditions in the gold mining stocks sector, and a reading above 70 indicates overbought conditions. This indicator is used as a tool to decide when to buy or sell gold mining stocks, but since gold stocks very often move in tune with gold or silver, it can be a useful tool when determining the direction of the entire precious metals sector. The index can be used in conjunction with a gold price chart, or multiple other tools, to watch for additional confirmations of a trend.
On this chart I'm comparing the ULT...stochRSI and the 10 day moving average...
$BPGDM
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