NEM - Gold and Precious Metals Stocks - Large Cap Leadership...?
Updated
NEM is close to breaking through a bullish flag. We need a couple more days to confirm. Large caps will lead the smaller caps so all eyes on NEM and ABX. GDXJ is in a bullish flag as well - but has more work to do, hints will come from NEM/ABX.
All adding to the positive technicals for XAU, XAG and the PM stocks. Cautiously bullish at this stage.
All adding to the positive technicals for XAU, XAG and the PM stocks. Cautiously bullish at this stage.
Trade active
NEM is breaking higher with other precious metals stocks - large caps are the leaders at this stage - we need a couple more days to raise confidence levels but looking good for existing strategic long positions and will be looking to add tactical longs to leverage up once we have held for a few days above the flag (also looking at the GDX flag for confirmation..Trade active
NEM is through - large caps are leading - price action is looking good - couple more days holding above this level and XAU and XAG breaking above their resistance levels and we will be looking very good..Disclaimer
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