A 21-session swing of 80 percentage points in miners trading below their 50-day average is the kind of washout that usually precedes a sharp bounce or a deeper break. Anyone holding gold equities finds out which this week.
Gold stocks have rarely been this oversold. ~92% of stocks in the gold miners ETF, $GDX, are now trading below their 50-day moving average, the highest proportion since late July. This figure has risen +80 percentage points in just 21 sessions. Furthermore, 90% of stocks in https://t.co/iELU7EV549
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