On the previous post, I just showed the breakdown of GOLD prices from its 1yr uptrend line and symmetrical triangle. And this is the effect on mining stocks:
Profit taking on BEL-LR and Lopez stocks.
SMDC CEB MEG still on losing streak.
MACD buy signal is gone. The consolidation continues.
Breakout may not happen this week. However, keep DMC in your radar. Breakout may happen in 1-2 weeks.
3 Days ago,I have presented 2 scenarios in LC. Looks like bearish scenario won.
-MACD sell signal
-Heavy selling(check volume)
-RSI drops below 60
+will SMA20 serve as a support?
AT Chart – daily