Time to be buying at the bottom

Time to be buying at the bottom

A number of the individual company charts are showing signs of having exhausted their downtrends, for the time being at least. They have started to move sideways through the trendlines of immediate downtrends, which could be the start of a turnaround. A number of gold producers have completed their correction patterns (short term downtrends) and recaptured longer term uptrends. This is an early buy signal that augurs well for the next few months provided that the gold price itself does not collapse. The first two weeks of July are often quiet with school holidays taking players away from the market, but volumes should pick up in the back half of July.