Gold Mining Shares Topping, Drop Due
Either we saw a top in the mining shares Friday or we will see it on Monday. The cycles suggest a low around April 19th and the e-wave pattern suggests a continuation higher after the bottom is put in, likely into early June.
The 8 year low still looms in the fall. I still believe we will see lower prices after the spring rally terminates, and lower stock prices and a strong dollar play havoc with the commodity sector.
The chart below explains:
Brad Gudgeon, editor and author of the BluStar Market Timer, is a market veteran of over 30 years. The subscription website is www.blustarmarkettimer.info