| From Marketoracle.co.uk: Despite the 40% decline in the Market Vectors Gold Mining ETF since March, the gold miners ETF does not exhibit the pattern of completion and likely still will hit one or both of my optimal lower targets derived off of the massive top formation we see on the enclosed daily chart. Let's expect a bounce from the vicinity of 33.50, but thereafter another loop to lower lows into the 30.00-28.00 area to complete the Jul-Aug decline.
Mike Paulenoff is author of the MPTrader.com , a real-time diary of Mike Paulenoff's trading ideas and technical chart analysis of Exchange Traded Funds (ETFs) that track equity indices, metals, energy commodities, currencies, Treasuries, and other markets. It is for traders with a 3-30 day time horizon, who use the service for guidance on both specific trades as well as general market direction.... Full Article: Source
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