Saturday, March 21, 2015

GDXJ/Gold Ratio

by Dan Norcini
Trader Dan

This key predictive ratio continues to struggle when it comes to gaining upside traction. It remains below the starting level of the year.
The HUI/Gold ratio looks a bit better but certainly nothing to write home about.
[...] Consistent with the weak-showing in this ratio, gold is struggling to breach overhead resistance on its chart emerging near $1175 and extending up to the old familiar $1180 level.
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