Last week I took notice of perhaps an opportunity to profit from the greatly oversold precious metal miners and now I believe we have further supportive evidence towards that end. The USD broke lower from its clearly defined triangle:
I believe the 200 day moving average is the USD's next stop. Should the USD break down from its 200 day moving average, then we could witness a spectacular rally lasting perhaps for a few weeks within the precious metals complex.
After a bit of frustration last week, I currently maintain a small position in NUGT at cost $11.65, and look forward towards adding to it.
Frontrunning: August 24 - - 'Voices under the rubble' after quake hits Italy; at least 38 dead ( Reuters) - Turkish tanks, special forces launch first major push into S...
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