Price Structure Peaking for Gold Miners

Jan 25

by Mike Paulenoff, Fri January 25th, 2008

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Price Structure Peaking for Gold Miners
By Mike Paulenoff, www.MPTrader.com

My pattern, momentum and cycle work on the Market Vectors Gold ETF (AMEX: GDX) suggest strongly that the price structure is peaking and could roll over at just about any time in the upcoming two weeks. This is also due to my perception that the underlying fundamentals have turned less friendly towards the miners, gold "consumption," inflation, and the overall bull market in equities.

Mike Paulenoff is author of www.MPTrader.com, a real-time diary of his technical analysis & trade alerts on ETFs for precious metals, energy, currencies, and an array of equity indices and sectors, including international markets, plus key ETF component stocks in sectors like technology, mining, and banking. Sign up for a Free 15-day Trial!

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