We Need “Confirmation” of a Metals Market Bottom

by Avi Gilburt
Gold Seek

For those of you that were with us back towards the end of 2015, you may remember that I was being quite vocal of the fact that I was heavily buying mining stocks. In fact, we even rolled out our EWT Mining service in September of 2015 to prepare for the bottoming in the complex we expected. At the time, quite a number of mining stocks were striking their long-term bottoms and beginning a strong rally.

Yet, if you also remember, it was not until the end of December of that year that gold struck its bottom. So, as you can see, we do not always see bottoming in all products and charts within this complex at the same time.

Most specifically, when you review charts like GDX and GDXJ, bottoming can take shape as a very overlapping and unclear structure. The reason is that some of the stocks within the index are striking lower lows, whereas others have already bottomed.

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