{"id":2208,"date":"2013-11-20T13:59:20","date_gmt":"2013-11-20T17:59:20","guid":{"rendered":"http:\/\/www.silver-investor.com\/blog\/?p=2208"},"modified":"2018-06-10T10:55:54","modified_gmt":"2018-06-10T10:55:54","slug":"silver-gold-miners-about-to-sell-off-again","status":"publish","type":"post","link":"https:\/\/www.themorganreport.com\/blog\/silver-gold-miners-about-to-sell-off-again\/","title":{"rendered":"Silver, Gold & Miners About To Sell Off Again"},"content":{"rendered":"

A couple weeks ago I posted these same charts talking about the pending breakout (in either direction) with silver, gold and mining stocks. Fast forwarding to this week its clear this sector continues its struggle to rally. Key support levels are now being tested and if these levels fail prepare for a sharp correction with mining stocks showing the most downside potential of roughly 25% for the GDX ETF trading fund.
\nLet\u2019s take a quick look at what is going on.
\nGold Trading Chart:<\/strong>
\nThe chart of gold shows price being wedge into the apex of the down sloping resistance trend line and the rising support trendline. Gold was trading below this level but has since bounced. But if gold closes the week below this line in the sand the price could start to fall quickly and test the $1200 per ounce within a week or two.
\n\"\"<\/a>
\nSilver Trading Chart:<\/strong>
\nSilver is under performing gold and trading below its support level currently. If silver does not recover by Friday\u2019s closing bell then things could get ugly for a few weeks as investors start to exit their positions. That being said, I need to point out that silver is more of a wild card when using trend lines like this. Both gold and gold miners should be confirming this breakdown in silver if it is the real deal.
\n\"\"<\/a>
\nGold Mining Stocks ETF:<\/strong>
\nThe chart of gold miners I like the most. I like it because it\u2019s pointing to lower prices, roughly 25% lower if the breakdown takes place. Gold mining stocks could be a fantastic long term investment if we see the $17.50 level reached on this GDX etf.
\n\"\"<\/a>
\nLast week I talked about ETF trading strategies and the big picture on gold, silver, miners and bonds. They look to be nearing a major bottom and once they do bottom it should be a great buying opportunity for specific stocks or the entire sector.
\nThe next few weeks are going to be crucial for precious metals and we will keep an eye on them as this bottom unfolds. Get more reports like this here:<\/strong> www.GoldandOilGuy.com
\nChris Vermeulen<\/p>\n","protected":false},"excerpt":{"rendered":"

A couple weeks ago I posted these same charts talking about the pending breakout (in either direction) with silver, gold and mining stocks. Fast forwarding to this week its clear this sector continues its struggle to rally. Key support levels are now being tested and if these levels fail prepare for a sharp correction withMore<\/a><\/span><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[121,89],"tags":[],"yoast_head":"\nSilver, Gold & Miners About To Sell Off Again<\/title>\n<meta name=\"description\" content=\"Silver, Gold & Miners About To Sell Off Again\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.themorganreport.com\/blog\/silver-gold-miners-about-to-sell-off-again\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Silver, Gold & Miners About To Sell Off Again\" \/>\n<meta property=\"og:description\" content=\"Silver, Gold & Miners About To 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