Gold Miners: The Underperformance Screams “Bearish!”

From sunshineprofits.com

While gold moved slightly above its recent highs yesterday, the gold stocks moved to their previous lows. Can you hear the bears approaching? Gold made another reversal yesterday, and the miners declined profoundly – also once again. Just as in early 2013 – that’s extremely bearish. Gold futures moved to new intraday highs yesterday, but they ended the session $1.90 lower, creating yet another shooting star reversal candlestick. Seeing just one reversal is bearish on its own, but seeing more than one in a row is profoundly bearish. Please note that gold reversed after moving slightly above the 38.2% Fibonacci ... (full story)