The Phaserl


Gold Makes Reverse H&S Breakout, Gold Miners Bouncing Off Support

from Gold Silver Worlds:

The Junior Gold Miners (GDXJ) ETF is bouncing off support at the 20 day moving average showing some bullish support and accumulation. Gold is holding the $1300 area showing a major January bounce which may forecast a powerful 2015. As the old saying on the market teaches, “As January goes, so goes the year.”

The US stock market is showing increasing volatility on lower optimism for good earnings growth. Gold is continuing to gain momentum as the 20 and 50 day moving averages turn positive. A golden crossover of the 50 and 200 day could be only a week or two away. Its been a rough four years for junior mining investors as the Venture hits 2008 and 2002 lows. However, there could be a good chance from both a technical and fundamental standpoint that the correction cycle in precious metals is coming to a conclusion.

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