Monday, August 12, 2013

Gold Miners with Annual Rate of Change - Compelling Opportunity

A long term chart of Gold Miners with Annual Rate of Change hint of a compelling opportunity. Reversal from extreme oversold levels over the last 30 years are marked with a red ring.
















Click on the image for larger Picture

The chart above shows that gold stocks are down on average more than 40 percent year-on-year. This level has offered an attractive entry point on the rare occasion when it has happened in the past with big rallies following.

Geir Solem

Elliott Wave Technician
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