Gold stocks about to break from their flag/pennant patterns?

Posted by Chris Kimble on 03/23/2011 at 2:21 pm; This entry is filed under Gold Stocks.

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Gold miners ETF's GDX and GDXJ are attempting to break from their flag/pennant patterns at (1).  With Gold breaking out of it sideways channel (see post here) odds increase that the miners will break to the upside!  Remember that breakouts from flag/pennant patterns can be very rewarding!

Game plan....Be an owner of GDX with a 5% downside stop.

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One Comments

  1. Ty Menna March 23rd, 2011 at 4:08 pm

    Hi Chris,
    Great chart! O.K., so I have a thought. If fiat currencies were to collapse…is there a possibility that Gold Miners could be nationalized as the global economy goes back to a Gold/Silver standard? I like to make a list of potential “black swans.”
    Ty