Metals and Miners Try to Get Their Shine Back

Specifically, the gold (and many silver) miners printed hammer reversal candlesticks yesterday on a textbook gap after an established prior downtrend. Even with the sell-off in stock futures overnight, miners are following-through to the upside today. Even with the recent slump, gold miners came nowhere close to breaching last summer’s lows. Holding the hammer lows is key for bulls, but the more aggressive buying we see here the more promising the prospect of strong rally becomes.

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Metals and Miners Try to Get Their Shine Back

Specifically, the gold (and many silver) miners printed hammer reversal candlesticks yesterday on a textbook gap after an established prior downtrend. Even with the sell-off in stock futures overnight, miners are following-through to the upside today. Even with the recent slump, gold miners came nowhere close to breaching last summer’s lows. Holding the hammer lows is key for bulls, but the more aggressive buying we see here the more promising the prospect of strong rally becomes.

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Comments are closed.