Buy Gold and Gold Stocks Pennant pattern formed

in #goldstocks • 7 years ago

Gold miner stocks have just created a pennant pattern. What is a pennant pattern? In short pennant pattern forms when stocks create a series of lower highs and higher lows. Here is a look at GDX Vaneck Vectors Gold Miners ETF notice the price trends starting to narrow. When that occurs history shows we are up for a price breakout. Joe-friday-gdx-going-to-breakout-of-pennant-pattern-may-26.jpg

Here you will see Exxon Mobile forming a pennant then only for the price to breakout.
Pennant-In-Uptrend-Chart-XOM.jpg
History shows now is a good time to buy gold stocks. It has been over sold for months and now a pennant has formed signaling a buy.

#gold #economy #money
7 years ago in #goldstocks by
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