Here is an important update after yesterday’s carnage in the gold, silver and mining share markets.
Gold & Mining Stocks
October 1 (King World News) – Graddhy out of Sweden: “As expected, Gold is now dropping through my thin zone. (See below).
Gold Plunges Into “Thin Zone” – Breaks Down From Head & Shoulders Top: Possible Target For Pullback $1,417-$1,381
GDX – Gold Mining ETF
Graddhy out of Sweden continues: “As expected, GDX does now also have a failed DC with today’s move to 26.54, and with that a LT DC, confirming the IC (Intermediate Cycle) decline. So the DCH (Daily Cycle High) call I made on day 7 is now confirmed. It also broke down from its head & shoulders (neckline is blue dotted line). (See below).
GDX Tumbles To 26.71, Toward 25.54-24.25 Target
Reiterating: Remain Patient During This Decline
King World News note: If Graddhy is correct, it may be wise to let the decline fully mature in both gold and silver before adding to any positions in the mining stocks. For those of you who dollar cost average into physical gold and silver, stay disciplined and continue to make your purchases at the same time each month. Do not get cute and try to time the market.
JUST RELEASED! Gerald Celente tells KWN listeners around the globe exactly where he believes the decline in gold will end before it skyrockets through $2,000 and much more and you can listen to his powerful audio interview by CLICKING HERE OR ON THE IMAGE BELOW.
Perfect To Read When Gold & Silver Are Tumbling
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$1,800 Gold, Cranking Up The Liquidity, Plus When The Bubble Pops CLICK HERE TO READ
Celente – Where The Decline In Gold Will Stop, Plus How To Prepare For What Is Coming CLICK HERE TO READ
ALERT: Bullion Banks And Commercials All-Time Record Short The Gold Market! CLICK HERE TO READ
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