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Gold Miners Might Be Ready For A Correction Soon — And That’s A Good Thing

Tuesday, February 21, 2017 4:35
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(Before It's News)

From ""
target="_blank">Taki Tsaklanos
: So far, we get sufficient signs
that our ""
target="_blank">Gold Price Forecast For 2017
remains bearish,
at least for the first period of 2017. "more-157157">

Our most bearish target is 890 USD later this year. If this
comes true, it implies that gold miners are not a buy at this
point, but will be later this year or next year.

At a certain point in time, ""
target="_blank">gold will turn again into a loved asset
. In
other words, the current long term bear market will turn into a
bull market. That moment is, according to Investing Haven’s
research team, not now. The trend change will be there, as bear
markets beget bull markets and vice versa.

The trick is to prepare a shortlist of positions for once that
important trend change takes place. That is how smart investors
plan ahead.

We worte last week ""
target="_blank">Gold Miners About To Undergo A Very Important
. Current prices are an important level for gold miners. A
sustained breakout from the falling bear market channel would be
hugely bullish. But we are not there yet, and gold is still in a
falling market. We remain bearish with our ""
target="_blank">Gold Miners Forecast for 2017
until proven

However, investors are closely watching the gold mining stocks
in order to identify the sector leaders, as those are the ones that
investors want to have in their portfolio once the tide turns.
Below are 5 hot and great looking gold mining
that should be on everyone’s watchlist.

Richmont Mines is an incredibly enticing gold mining
. In 3 years time, it became a tenbagger. This should
be one of the top gold mining stocks on every investor’s
shorthlist. The stock got ahead of itself, so we believe a lower
entry point in combination with a bottom in gold would be a great
setup for a buy signal.

target="_blank"> ""
rel='magnific' sizes="(max-width: 967px) 100vw, 967px" srcset=
" 967w, 300w, 768w"
alt="gold mining stock richmont mines" width="500" />

Klondex Mines is another great gold mining
. It also got ahead of itself last year, and it moved
outside its rising channel. This does not seem an appropriate time
to buy, so waiting and watching for a lower higher within the trend
channel is recommended.

target="_blank"> ""
rel='magnific' sizes="(max-width: 963px) 100vw, 963px" srcset=
" 963w, 300w, 768w"
alt="gold mining stock klondex mines" width="500" />

First Majestic Silver is a pure play silver miner. It reacted
amazingly well last year, and fell back some 60% since last summer.
Once silver turns into a bull market, this stock will be an
outperformer. A lower entry point would be a great buy.

target="_blank"> ""
rel='magnific' sizes="(max-width: 974px) 100vw, 974px" srcset=
" 974w, 300w, 768w"
alt="silver mining stock first majestic silver" width=
"500" />

Mid-tier Detour Gold looks very constructive. The key question
is whether this gold mining stock will break support once gold goes
lower this year (if our gold price forecast comes true). So this
stock bears watching especially its trendlines.

target="_blank"> ""
rel='magnific' sizes="(max-width: 959px) 100vw, 959px" srcset=
" 959w, 300w, 768w"
alt="gold mining stock detour gold" width="500" />

Lastly, junior gold miner Integra Gold is performing very well.
It is close to all-time highs. A bit patience for a lower entry
point is recommended.

target="_blank"> ""
rel='magnific' sizes="(max-width: 969px) 100vw, 969px" srcset=
" 969w, 300w, 768w"
alt="gold mining stock integra gold" width="500" />

The Market Vectors Gold Miners ETF ( target="_blank" href="/r2/?url=" target=
fell $0.23 (-0.93%) in premarket
trading Tuesday. Year-to-date, GDX has gained 18.50%, versus a
5.17% rise in the benchmark S&P 500 index during the same

GDX currently has an "" target="_blank">ETF Daily
News SMART Grade
of C (Neutral), and is ranked
#19 of 33 ETFs in the "" target=
"_blank">Precious Metals ETFs

This article is brought to you courtesy of href=
target="_blank">Investing Haven

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