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Chart 1: TDG Junior Index & TDG Mini GDXJ Index
We plot the daily bar charts of these two indices. The mini index is essentially half of the Junior Index, which is comprised of 55 stocks.
Both indinces have reclaimed their 200-dma's though they are sloping down slightly. Both indices are also approaching or at major resistance. With the US$ likely to rebound, a pullback is expected. But the longer these indices can test or hang around that resistance the more supply they absorb and the weaker the resistance gets.
Commentary:
The rally in precious metals has gone further than we expected but we need to see more to think this is the start of a big move higher. How will the sector perform when the US$ rallies? Can Gold test or even break $1300? What happens if the Fed changes course? What about the CoT's?
Many things are giving conflicting signals as volatility in precious metals remains extremely low and the sector potentially nears a big move. Gold's weakness in real terms and the potential for a US$ rally leave me skeptical but if Gold can break $1300 to the upside, more buyers could pile in.
Consider a subscription today as we can help you avoid losses, sidestep trouble and get positioned in the juniors that have a chance to 5x-10x baggers over the next 2-3 years (like the one teased above).
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Disclaimer: This newsletter is intended for informational and educational purposes only and should not be considered
personalized and individualized investment advice. Investment in the precious metals sector contains significant risks. You should consult with an investment advisor and do your own due diligence before making any investment decisions. This email may contain certain forward looking statements which are subject to risks, uncertainties and a multitude of factors that can cause results and outcomes to differ materially from those discussed herein.
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