Multi year lows were made in Jan-16 and the long-term reversal seems to have been confirmed Dec-17 as higher lows are established. Fundamentally gold miners have attractively priced PEs, are breakeven on gold spot prices, and provide an opportunity to hedge 2017-2018 inflation risk that Yellen has softly signalled.
Entering long and buying down to 18.5, with a target at the 31 resistance provides over 2:1 risk reward.
Entering long and buying down to 18.5, with a target at the 31 resistance provides over 2:1 risk reward.