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ETF Focus: Precious Metals

This is a syndicated repost published with the permission of Slope of Hope – Technical Tools for Traders. To view original, click here. Opinions herein are not those of the Wall Street Examiner or Lee Adler. Reposting does not imply endorsement. The information presented is for educational or entertainment purposes and is not individual investment advice.

Gold has failed a number of importance support levels. This chart has become hideous.

Silver is even uglier. It has broken beneath every key intermediate support level.

The miners themselves may rally, but they’ll have difficulty getting past that horizontal.

Perhaps the most compelling chart is of the junior miners, which were battered down to long-term support.

As another flicker of hope, I would add that the months ahead have a strong seasonal upward bias.

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