Gold and Metals Update: $GLD $SLV $GDX

Gold.

I have been a metals and gold bull all 2017 Here and Here, and a few others actually. And I am still bullish longer term, but I believe that we will stall right here for “a short time”. My reasoning is because the miners and silver are not leading the charge like they should.

Check out the daily chart of GDX. I believe it will rest here and lead the mega bull in a few weeks or months. It is sitting right at the 200 day MA and gold futures are not going to get it done IMO.

 

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HOWEVER.

 

 

Read along….

 

 

This is about to be the most important pullback in Gold you will EVER consider buying in the last 10 years in my opinion.

 

gld.JPG

 

We are sitting right at the Granddaddy of them all trendline and are above the 200 day MA on a weekly basis. This is very longterm bullish. ANY MOVE back down to 1230-1250 area should be bought with force and the Mega Bull Trend has began…to 1700+

 

Just hope it gives you another opportunity. 

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