Friday, January 07, 2011

Gold Stocks - 20 Week Rallies


Above is a weekly chart of GDX (Gold Stocks) with about 2 1/2 years of price data. If you look at the previous rallies, you will notice that most of these rallies lasted approximately 20 weeks.  Last month GDX reached its 20th week of moving higher which means we  can now expect a pullback similar to what we've seen in the past.

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