Mining stocks break above resistance…Most oversold ratio in 30-years is moving higher, even when the broad market is down!
I shared the chart below with Premium Members recently, reflecting that the Gold to Miners ratio was hitting 30 year lows and was due a bounce!
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Not only was this ratio at 30 year lows, the right chart reflects a positive breakout for GDX, breaking above falling resistance at (2) above. This is a positive for GDX and reflects that miners are due a relative strength move in the near future!