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Line (1) was important for the Gold & Silver Miners (XAU index), as it went up four fold over a 10-year period. Now a parallel line to this rally looks to be coming into place at (3) in the above chart after a 40% decline in this index.
Support is support until broken and the miners are back at parallel support right now, creating a bullish wick at this key line last week.
Is the Gold/Silver index (XAU) the only place that might be on support in the metals complex?
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As you can see, Gold & Silver find themselves on medium term support at this time in the 2-pack above.
Premium & Sector Sentiment Extreme members are attempting to take advantage of this situation in the metals complex with stops below these key support lines.
I will be producing a “NEW” complimentary report on the metals complex by the end of this week, if you would like a copy of this report send an email to [email protected] and in the subject line put “New Report” or click on the box below and we will get your this new research report as soon as its available.
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