Commodities Analysis and Opinion
Oversold Bounce Coming in Gold, Silver and Miners
2023.08.21 05:05
Significant technical damage has been inflicted upon , and the miners, leaving them vulnerable to further selling over the coming weeks.
However, they are very oversold on a very short-term basis and odds favor a rebound next week. VanEck Junior Gold Miners ETF (NYSE:) and ETFMG Prime Junior Silver Miners ETF (NYSE:) formed bullish hammers.
Silver outperformed Gold in recent days. Silver and Gold are trading close to important support. Look for a bounce next week.
