The Bears Refuse to Surrender - Gold Miner's Decline by handofzara

steemsilvergold · @handofzara · Jul 11 '19

$0.28

The Bears Refuse to Surrender - Gold Miner's Decline

![Screenshot_2019-07-11 iShares Silver Trust (SLV) Interactive Stock Chart.png](https://cdn.steemitimages.com/DQmbd4dGv1Jpi7bJhxfjgys12aDLrWxCEJGpWdnqS6jZYRd/Screenshot_2019-07-11%20iShares%20Silver%20Trust%20(SLV)%20Interactive%20Stock%20Chart.png)

The HUI (AMEX Gold Bug Index) ended lower today off 1.07% with a CLOSE at 198.24. The Gold Miners did post a new high for this move at 200.71.

The HUI did post a "sell signal" with today's action. The "sell signal" came since the HUI hit a new high and then closed below the open and below yesterday's close.

Will the "sell signal" generate an actual sell off in the miners?

Watch today's low at 195.95, if this is taken out tomorrow then there could be a larger correction in the cards.

The stochastics remain in overbought territory and MACD looks very ugly.

This market is difficult to see anything other than a minor pullback.

If the BULLS can defend today's low then we will have to wait for Monday.

If the BULLS can take out today's high then we are off for the races.

A whole lot of "ifs", trading does not have to be emotional and there is nothing wrong with taking profits.

I personally am not shorting this market, I did some of that last week and made some profits but there was an unusual pattern that I noticed. Each and every dip seemed to be seriously bought.

Even today, the miners dipped down to 195.95 and then rallied to the CLOSE at 198.24. Not a bad comeback by the bulls.

We shall see what tomorrow holds.

COMEX GOLD and Silver were also off today. Gold has support at 1402.21 if that breaks then it could get ugly.

Peace Out and Stack On.

PS. Stacking is always so much easier than trading.

👍 ssg-community, andywong31, sbi5, yankee-statman, accelerator, tbnfl4sun, senstless, myprecious, goldkey, silverbug, vgholdingsllc, silvergoldbotty, map10k, ronaldoavelino, fishyculture, steemitag, jonknight, eveningart, handofzara, pbock, themanwithnoname, fat-elvis, plemmons, willsparks88, sergino, thesilverdoll, dixiesilverminer, bluesniper, dwingsworld, silverstackeruk, rollingthunder, senstlessmonster, turkishcrew, fyrstikken
👎 camillesteemer

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properties (23)vote details (35)

voter	rshares	pct
fyrstikken	19,031,750	1%
pbock	2,010,135,175	12.5%
tbnfl4sun	14,237,598,424	10%
silverbug	8,092,927,255	10%
handofzara	2,175,655,128	10%
goldkey	9,863,531,425	6%
fat-elvis	1,813,495,144	12.5%
rollingthunder	167,180,272	6.25%
dwingsworld	570,252,296	10%
silverstackeruk	232,175,849	1%
fishyculture	3,535,538,073	12.5%
accelerator	15,059,627,896	0.6%
silvergoldbotty	6,764,609,381	0.8%
jonknight	3,270,763,758	100%
andywong31	320,559,750,106	100%
steemitag	3,442,087,167	10%
senstless	11,080,924,712	10%
vgholdingsllc	7,212,416,629	15%
yankee-statman	19,112,057,168	50%
themanwithnoname	1,972,591,390	10%
turkishcrew	81,291,799	0.6%
willsparks88	771,882,426	6.25%
myprecious	10,020,201,225	25%
ronaldoavelino	4,892,587,523	2%
dixiesilverminer	639,104,076	12.5%
sergino	714,651,115	4%
camillesteemer	0	-100%
sbi5	40,677,741,823	9.31%
ssg-community	339,814,558,929	5.9%
eveningart	3,030,097,486	12.5%
plemmons	1,272,409,180	100%
bluesniper	580,989,562	0.16%
senstlessmonster	162,340,925	10%
thesilverdoll	657,637,767	12.5%
map10k	6,168,538,134	0.5%