Friday, July 11, 2014

Selling Hits Gold Late In Session; Miners Hit Hard

by Dan Norcini
Trader Dan Norcini

It did not take long for the longs in the gold mining sector to start a wave of profit taking. That came in when the mining indices could not extend their early-in-the-session gains. As a matter of fact, the opening print on many issues was the high for the day, or very near the high of the day. From that point forward, the shares drifted lower most of the session until they began to accelerate lower during the last hour of trading.
The result is a SHORT-TERM sell signal on the price chart although no major damage has been done to the uptrend at this point.
Continue Reading at TraderDanNorcini.Blogspot.ca…
Please share this article

No comments:

Post a Comment