POSSIBLY THE MOST IMPORTANT CHART FOR GOLD BUGS/ TRADERS TO BE WATCHING I.M.H.O.
We just had a "WATERFALL" type sell off in MARCH. Many started HATING MINERS again. THAT sentiment is now turning to , "I NEED TO BUY THIS REVERSAL OR MISS THE MOVE". THIS is what I am watching for, this chart should be Noted.
The prior "waterfall" sell offs last Fall DIDNT get above the 9 sma more than 1 time per month. We already saw that in April, So if we are going to have another leg down--- IT May be time to Fasten our seat belts?
From here it's easy- as I write , we are currently right at the 9 S.M.A. , so its already Show Time. Can we break thru? Or will it be held down here again? Its definitely what I am watching. ( Click chart to enlarge )
Again...Please dont shoot the Messenger , I am just here trying to help people in their investing day. Best wishes to all