Post-election highs – Good for Wall Street but not for Gold

From sunshineprofits.com

Following the close of the U.S. presidential election and latest post-election euphoria, miners posted slight gains on Thursday and Friday, gains which are likely to be short-lived and followed by a sustained decline, if the history charts are any indication. When compared to small breakouts over the declining resistance line in August, September and October as well as the small gains and sudden drop by the Gold Miners Bullish Percentage Index back in 2016, the most recent gains by miners are negligible and only predict an eventual and further trend downwards. The excessive bullishness was present at the 2016 top as ... (full story)