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RING - It's Buy-The-Dips Time In Metals And Miners - David Brady (07/06/2019)
iShares MSCI Global Gold Miners ETF
By David Brady
I am expecting gold to test the resistance zone between 1,370-80 next with a healthy pullback to follow. But I do not recommend anyone short gold in this market. As the Elliott Wave theorists put it, a Wave 3 (or C) is under way in gold and any pullbacks are to be bought under such circumstances. Shorting in this environment is playing with fire. This is a buy-the-dips market. We are heading up to new highs in the 1,400s before this rally is complete, in my opinion.