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August 17, 2011 / Jeb

Technical Analysis On Gold Mining Stocks: Basing Process Completing

Gold Stock Trades has maintained a strong hand on signaling the completion of the basing process in mining stocks (GDX) in relation to gold (GLD) and silver (SLV) bullion prices. Right now it will suffice to alert readers that one of the most salient technical signals is occurring right now-The dreaded death crosses are being transmuted into euphoric crosses of gold.

For the past four months, an eagle eye has been kept on the number $52.50 on the gold mining equities (GDX). That was the line in the sand that we drew for our subscribers. It represented the technical juncture of key support levels, which can be referred to continuously in our published archives. That line held. The basing process is being completed at this very moment.

Read the full article by clicking here…


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