Thursday, March 01, 2012 10:35:41 AM
Gold Miners Try To Dig Out Of Yesterday's Hole
This morning, all of the leading gold mining stocks are ticking higher. Yesterday, gold, silver, and leading mining stocks were slammed sharply lower as the U.S. Dollar Index rallied. Traders should realize that when markets stage an outside day on heavy volume it is usually an indication of lower prices to come. The popular and highly traded Market Vectors Gold Miners ETF (NYSEARCA:GDX) is trading higher by 0.12 cents to $55.52 a share. The daily chart is signaling that the GDX will sell down to the $52.00 area before reaching some near term support. Short term traders can watch for intra-day support around the $54.67 and $54.00 levels. ...Continue reading here: http://bit.ly/ykYmdm
This morning, all of the leading gold mining stocks are ticking higher. Yesterday, gold, silver, and leading mining stocks were slammed sharply lower as the U.S. Dollar Index rallied. Traders should realize that when markets stage an outside day on heavy volume it is usually an indication of lower prices to come. The popular and highly traded Market Vectors Gold Miners ETF (NYSEARCA:GDX) is trading higher by 0.12 cents to $55.52 a share. The daily chart is signaling that the GDX will sell down to the $52.00 area before reaching some near term support. Short term traders can watch for intra-day support around the $54.67 and $54.00 levels. ...Continue reading here: http://bit.ly/ykYmdm
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