The FED's announcement resulted in a sharp reversal of GDX MF.
This type of behavior is not good after a Buy Oversold signal.
We are now close to the Oversold level, where the model will revert to cash.
When checking the EV pattern of all the gold miners, I could not resist comparing ABX to IAG. IAG issued a cost increase warning, but ABX did not do. However, the market is acting as if ABX would also issue such cost increase release by mid of February.
I will keep any long position small until most PM miners earnings are out.
Pascal
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