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Of late Gold is pushing above a year long falling resistance line at (1) in the above chart.
What are Small/Junior Mining companies looking like of late? Junior Miners ETF (GDJX) despite a rally over the past few months, remain 45% lower than one year ago.
“Junior Mining Stocks” (GDXJ) is now testing falling resistance line (2) in the above chart for the third time in the past year. So far they have NOT bit into Gold’s breakout.
If enough traders can step forward and break this resistance, it would be a good sign for the Junior Miners!