Monday, 2 December 2013

11am update - metals and miners under pressure

The last month of the year is not starting well for the precious metals or the mining stocks. Gold is -$22, with Silver -2.5%. Naturally, the miners are lower, with GDX -3.5%. The bigger weekly/monthly charts are offering weakness into end year.

SLV, daily3 - H/S

GDX, monthly


*I was short-stopped from SLV @ 18.77..will consider a re-short on any bounce to 18.95/19.05

H/S downside target remains 17.00..monthly charts are offering the 15s.

I realise for many out there..its already an annoying week.    I suggest large quantities.