Today Michael Oliver, the man who is well known for his deadly accurate forecasts on stocks, bonds, and major markets, communicated to King World News that we haven’t seen anything yet when it comes to mining stocks as they are preparing for a massive 40% surge on the upside.
GDX: VanEck Gold Miners ETF
August 26 (King World News) – Michael Oliver, Founder of MSA Research: Again, trade up to 40.24 this quarter and quarterly momentum will register a triple-top breakout over a structure going back several years. That would put momentum up at +9, with all the prior highs having reached +8 but never tagging +9.
GDX Miners To Surge 40%
We suggest such a breakout will likely surge GDX well beyond its 2020 price high of 45.78 and into the mid to upper 50s before the next pause.
We ran a report on Newmont Corp. (NEM) last week, noting that its tone and actions indicated that major flows of capital were moving into that largest blue-chip miner, likely from non-gold bug portfolio managers. When GDX, gold, and silver had that sharp intraweek selloff last week (which was immediately reversed), note that NEM hardly flinched in price. Hmm. This is only one page of a special 14 page report which is one of many issued each week by MSA Annual Research. To receive the special KWN discount to subscribe to Michael Oliver’s internationally acclaimed MSA Annual Research which is used by professionals and serious investors all over the world CLICK HERE.
To listen to Alasdair Macleod discuss what may cause the silver market to explode higher as well as what’s in store for gold and the mining stocks CLICK HERE OR ON THE IMAGE BELOW.
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