Tuesday, January 5, 2010

Gold, Precious Metal Miners, Base Metals ETFs For 2010: Analysis

We computed the RSI values of the gold, precious miners and metals ETFs on the market and analyzed the results on three different timeframes (short term, medium term, and long term). RSI values are very good indicators of overbought and oversold conditions. The list includes long and short, as well as leveraged ETFs.

Here are the results.

1. Short Term

Short term timeframes are measured in days. PTD (short Platinum) is the only oversold ETF. JJM (industrial metals) is the only one overbought.

2. Long term

Long term is measured in months.

In the long term, ZSL (ultra short silver) and GLL (ultra short gold) are oversold. Since these are ultra shorts, it means the underlying metals are likely overbought.

The most overbought ETFs are JJM (industrial metals), UBM (industrial metals), and DBB (base metals).

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