However, we believe gold miners are ready for a serious correction.
As seen on the chart, the top of a huge resistance area is now reached, and that does not bode well as this price point has been resistance since 2013 (after the big collapse of precious metals).
Though it seems enticing to go long at this point, as mainstream media is so excited about gold, we believe that gold and miners are about to take a rest.
Be careful with long positions in the gold mining space at this point!
This article is brought to you courtesy of Taki Tsaklanos.