Which Event Happens First?Which event is going to happen first:
- BGM closes below 10 cents?
- BGM closes above 50 cents?
I think it is going to depend on the gold market direction and given that down looks like trend, the smart money has to be below 10 cents first.
This little indicator I posted earlier is working right on the money and it looks like it going to hold true for 6 out 6 times.
https://www.goldminerpulse.com/blogs/normalized-relative-gold-price-signal.php
How low with the current gold break go? Unfortunately there doesn't seem to be an equivalent bottom indicator published. I think look for something like a heavy volume sell off would be a pretty savy sign. I know a lot of the old pros (sorry didn't keep links to stories) were saying to wait for the gold bottom as it still wasn't in. Looks like they were right on the money.
Still, I guess gold could be back to $1200 in the wink of Fed Reserve governor.