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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.
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