PM Sector

GDX has moved just as the analysis of the early price strength showed us: the opening gap was shorted and it has been downhill from there. There is a slight negative divergence at the right side, indicating that the selling is not over.

Gold, silver and platinum are all weak. Hence, we cannot expect much from the miners if the gold bounce attracts continuous selling. I sold at the open all the PM positions that I entered yesterday, but did not short - to my regret.



Pascal

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