- A new gold-stock upleg sure looks to be underway. The major gold stocks have spent the last several weeks carving a new uptrend, as evident in their leading GDX benchmark.
- This bullish price action came right after a major gold-stock correction climaxing in a capitulation. That forced GDX back under its 200-day moving average, hammering gold stocks to oversold levels.
- That naturally crushed sector sentiment, breeding widespread bearishness. All this is a textbook setup for a correction bottoming paving the way for the next bull-market upleg.
For further details see:
New Gold-Stock Upleg