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Another Tool In The Toolbox!

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Peter Degraaf
 
Published : December 22nd, 2017
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Category : Gold and Silver

Charts are fascinating! They reflect human action. We look at charts for direction, for support and resistance. Here is a chart (courtesy Stockcharts.com) that is just now in the process of showing a buy signal for gold mining stocks.

Featured is $BPGDM. This index rises or falls according to the bullish percentage among the stocks that make up the index. At the top we have inserted GDX, the miners ETF. In the past, whenever $BPGDM rose up from below 25 it gave a buy signal for mining stocks. Notice how the blue arrows point to excellent timing. The supporting indicators at the bottom (CCI and Slow Sto) have just turned positive, to provide confirmation.
Data and Statistics for these countries : Georgia | All
Gold and Silver Prices for these countries : Georgia | All
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Peter Degraaf is an on-line stock trader with over 50 years of investing experience. He sends out a weekly Email to his subscribers. For a 60 day free trial, contact him at itiswell@cogeco.net, or visit his website www.pdegraaf.com
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