Sadly, my prediction that 2020 would represent resistance for gold held quite true. We made a nice run at it yesterday, but then – – boing!!
In turn, the miners, like VanEck Vectors Gold Miners ETF (NYSE:GDX), have been weakening. I have no position in any miners, but this is a prospectively bearish diamond pattern.
I’m holding steady at 61 short positions. The market continues to be a directionless bore.
Gold Faces Resistance, Miners Weaken
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.