As the name implies, any stock or commodity can go through a coiling or compression process. Just as a coil or spring will do when you pull it to tight, eventually they explode. Given the levels of interest by large speculators and commercial traders on buying this large dip in gold, I would speculate that gold is going to rocket higher.
As I have explained before, Gold Miners are undervalued relative to gold. Over the last three years, they have not enjoyed the gains that gold or silver has had. I expect they will outperform over the next year. Right now, the gold mining ETF GDX is near the bottom of this megaphone or broadening wedge pattern.
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