Considering that XAUUSD hit year high of 1303.76 which is just a tad shy of last year’s high of 1307.59, this is a good time to do an update of this story I posted back in March ‘2016 Year of gold mining stocks?‘
Salient point: I expect a bullish reversal in gold price which will terminate a down trend that started in 2013 and it would be a good idea to look for accompanying move in gold miners. The very specific signal: new 52-week high, a bullish expansion in price which will terminate previous sequence of year-year lower highs and lower lows. Outcome undeniable.
Soh Tiong Hum is Director of TerraSeeds Market Technician Pte Ltd. TerraSeeds is a trading educator in Singapore since 2005.
Soh's Twitter account @sohtionghum was ranked #23 out of The Top 70 Twitter Accounts To Follow In 2015 by MahiFX.
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