Gold Mining Stocks Correct

FSAGX

We have covered the bullish breakout of gold stocks since early September. The chart of the Fidelity Select Gold Fund (FSAGX, last change: -0.70%) shows that the bullish rally has stalled and a correction is taking place now. Gold needs to find a new support level in the coming sessions for the bull move to continue.

Technical analysis screens are provided by FidelitySignal.com

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s