Commodities Analysis and Opinion
Gold Stocks Generate Short-Term Bullish Signal
2023.07.13 03:15
The advance-decline line as of the start of the week was showing a positive divergence. There was a similar positive divergence in the advance-decline line at the October 2022 and March 2023 lows in gold stocks (VanEck Gold Miners ETF (NYSE:)).
The / ratio has had a little breakdown below a rising trendline. Silver could test $26 if it surpasses resistance at $24.50, while Gold should test stiff weekly resistance at $1985 to $2000.
