This Sector Is Ripe for an Oversold Bounce

Conditions have shifted and now’s our chance. [Jeff Clark's Market Minute]( This Sector Is Ripe for an Oversold Bounce By Jeff Clark, editor, Market Minute We’ve been cautious about the gold sector here in Market Minute for the past couple of months. Within just the past few weeks alone, gold stocks have fallen hard. But now it’s time to start getting back in. The VanEck Vectors Gold Miners Fund (GDX) traded as high as $41 per share in early April. But on Tuesday, it closed below $32 per share – a 22% drop in about one month. That decline wiped out all the gold sector’s gains for 2022. And it shifted the technical condition from “extremely overbought” to “extremely oversold.” This comes as no surprise… Recommended Link [Record gas prices… runaway inflation… Where's it all going?]( [image]( An inevitable energy crisis is unfolding and investors MUST prepare! [Here are the steps you should take.]( -- [In March]( we pointed out that the “smart money” had turned [bearish]( on gold. And [in early April]( we noted that the GDX/GOLD ratio chart had reached an extremely overbought level. So, we figured traders might have a better chance to buy into the gold sector later. Now, after a sharp decline in the gold stocks over the past few weeks, we may finally have our chance. Take a look at the GDX chart… [chart] [(Click here to expand image)]( GDX rarely strays more than 8% away from its 50-day [moving average]( (MA – blue line) before it reverses back toward the line. In early March, GDX traded as much as 20% above its 50-day MA. It was overbought, and vulnerable to a decline. Free Trading Resources Have you checked out Jeff's free trading resources on his website? It contains a selection of special reports, training videos, and a full trading glossary to help kickstart your trading career – at zero cost to you. Just [click here]( to check it out. Today, GDX trades about 13% below its 50-day MA. It’s oversold, and we could see a “snap-back” rally start at any time. Of course, there aren’t any guarantees in trading. Oversold conditions can always get even more oversold. [Will You Be Left Behind?]( But based on my analysis, I believe the sector will trade much higher in the coming months. So, if you were looking to buy into the gold sector anytime within the past two months – and you held off because of our warnings – you now have a much better opportunity to buy the gold stocks. Best regards and good trading, [signature] Jeff Clark Reader Mailbag Have you been holding off on buying gold stocks? Will you buy into it now? Let us know your thoughts – and any questions you have – at feedback@jeffclarktrader.com. In Case You Missed It… [Bull or Bear Market – Millionaire Trader says, “Who Cares? Watch This…”]( Bullish or bearish? Melt up or meltdown? According to one of America’s top millionaire traders… It doesn’t matter. His name is Jeff Clark and says he says he’s been able to join the top 1% of wealthy Americans by ignoring 99% of the stock market – using a trading strategy most on Wall Street would consider impossible. But get this... Regardless of a bull OR bear market, he’s shown his followers how to capture gains of 100%, 228%, and 373% in just 8 days. Is it true, is it hype? He agreed to sit for an investigative interview to show Americans – he’s dead serious. [Click here to see his controversial message.]( [image]( Get Instant Access Click to read these free reports and automatically sign up for daily research. [The Ultimate Guide to Taking Back Your Privacy]( [An Insider’s Guide to Making a Fortune from Small Tech Stocks]( [The Gold Investor’s Guide]( [Jeff Clark's Market Minute]( Jeff Clark Trader 55 NE 5th Avenue, Delray Beach, FL 33483 [www.jeffclarktrader.com]( To ensure our emails continue reaching your inbox, please [add our email address]( to your address book. This editorial email containing advertisements was sent to {EMAIL} because you subscribed to this service. To stop receiving these emails, click [here](. Jeff Clark Trader welcomes your feedback and questions. But please note: The law prohibits us from giving personalized advice. To contact Customer Service, call toll free Domestic/International: 1-800-752-0820, Mon–Fri, 9am–7pm ET, or email us [here](mailto:contactus@jeffclarktrader.com). © 2022 Omnia Research, LLC. All rights reserved. Any reproduction, copying, or redistribution of our content, in whole or in part, is prohibited without written permission from Omnia Research, LLC. [Privacy Policy]( | [Terms of Use](