Time to monitor for bottom formation chart pattern
Goldcorp (GG) 5 Year Logarithmic Chart
The gold miners are trading well into bear territory. Take a look at the 5 year chart for Market Vectors Gold Miners ETF (GDX) which is approaching the 2008 low. Barrick Gold (ABX) is testing the 2008 low.
Goldcorp (GG) has the largest market cap in the industry and some of the best fundamentals. Never try to catch a falling knife but it is time to monitor for a bottom formation pattern.
Reference the last chart analysis for gold.
Relevant articles picked from the Web:
- 20 gold stocks that short sellers don’t like — Globe — April 29,2013
- Bitcoin’s real-world problem: — FP — April 27, 2013
- China’s slowing growth sending shockwaves through commodities sector — FP — April 27, 2013
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