Tuesday, November 4, 2014

Big Precious Metals Miners At Their Multiyear Supports

It is a very interesting situation in the gold sector. The biggest miners are at their multiyear supports - technically speaking they do not have too much room to go down further. Of course, in theory their shares can go to zero but this is just a theory applicable to all stocks.
Well, look at the charts below:

The best examples of these multiyear supports are evidenced in the charts of  Kinross, Anglogold and Barrick. Their shares have been trading at the levels not seen since the beginning of the last decade gold bull run. It is really impressive. The three PM behemoths  have done nothing while gold prices are much higher these days than 12 years ago.

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