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Short to Midterm Gold Action Looks Promising says Jordan Roy-Byrne

Mining Stock Daily

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The GDX Advanced Decline Line Is a Positive Divergence

In the last month or two, but GDX made a lower low. The Advanced Decline Line did not. This is the third time in the last seven years we've had a positive bullish divergence there with respect to that indicator. Another signal is silver bottom, the first day of September, believe around $17 or so. And if we're looking at the price action of the silver ETFs, the HUI, GDX, GDXJ, I mean they're tracing out some potential bullish bottoms. So you have basically, I mean, I could go on and on, but there's all these technical indicators that are showing these positive divergences.

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