Technical observations of RossClark@shaw.ca
Seven of the nine gold miners with market capitalizations over 10 billion Cad$ have generated TD Sequential 9 Sell Setups during this year's rally. The most common reaction is a correction back to the 20-month exponential moving average. Longer-term investors should be patient.
20-month ema
EMA Support US$ / (Cad$)
ABX
Barrick Gold Corp
5 of 6 since 1986
$15.25 / (Cad$ 18.90)
NEM
Newmont Mining
4 of 5 since 1968
$30
FNV
Franco Nevada
2 of 2 since 2007
$59 / (Cad$ $76)
AEM
Agnico Eagle Mines
1 of 2 since 1997
$39 / (Cad$ 50)
GOLD
Randgold
1 of 2 since 2003
$86
FRES.L
Fresnillo
None
$16
NCM.AX
Newcrest
2 of 2 since 2003
$13
