Gold miners are about to breakout

Gold miners are about to breakout

It looks like gold miners are about to appreciate relative to gold, as you can see on the multi-year ascending triangle on the chart. Given that I don't expect gold to have any significant medium-to-longterm pullbacks, this means that gold mining stocks are setup to appreciate more than gold.

The next significant medium to long-term resistance zone is ≈60% higher, meaning that miners have room to appreciate significantly more relative to the price of gold.

The chart is on a monthly level and it shows the ratio between the price of gold miners index and gold futures.