Replies to post #1161 on Tech Analysis of Precious Metals Miners

[4Godnwv]

frenchee:

Intermediate term:
Looking at the 2 year weekly VGZ shows steady accumulation, oversold, looks ready to bounce off the lower BB, 10dma is below 50dma [both headed south] NOTE: would like to see 10dma turn up, MACD looks like it might be ready to turn up, RSI is turning.

I'd say that if the MACD can make the turn and the 10dma turns north...there's upside potential.


Short term:
If it were my money I'd hope for somemore downside to get in, BUT green vertical lines show 2 previous bottoms and where we are now [NOTE the same little head fake back in Aug] ...if indicators continue turning north, no worries.

PS Also notice the volume is drying up, my guess is everyone is thinking the same thing, i.e. "I gotta wait to see which way this goes".




Of course these are the ramblings of a goldbug and should not be taken seriously.

Good trades,
4God