Gold completed an undercut on Friday. Everyone is bearish, as they should be at a major bottom. When everyone is thinking the same thing, no one is thinking.
On Wednesday’s reversal almost 2 billion in shares of the major mining indexes traded hands and that doesn’t include individual mining stocks. Remember me explaining how the banks manufacture these panics to create liquidity allowing them to enter big positions without moving price against themselves?
Despite gold making a lower low the mining indexes did not. A divergence.
I think there’s a strong possibility the bottom occurred on Friday, and if not, it is going to occur sometime this week.