AMEX:GDX   VANECK VECTORS GOLD MINERS ETF
202 4 1
GDX             showed sign of trend reversal, as it broke downward trend line and formed a higher low. Still need a higher high to confirm. Form the chart we can see a possible symmetrical reversal price structure and thus if indeed a new uptrend is forming, it could potentially reach $31 price level (given the parallel price channels) and provide 29 percent gain from current level, in the next couple of months.

Wish trading and investing can be this easy :) Good Luck!
GCEventsmoveGDX
2 years ago
What events are going to call for more gold demand in the long term? This time frame shows the miners in embedded stochastics to the downside. Why are you hopeful for a move up?
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CosmicDust GCEventsmoveGDX
2 years ago
My hope was based on price action (downtrend broke, higher low, and support lines). I usually do not rely on secondary indicators like stochastics, neither do I rely on fundamental analysis (like gold demand), which is beyond my knowledge. At this point, GDX can still go either ways, we'd like to see it closes with a higher high to confirm the trend reversal. Also it is not about long term but a potential swing trade in a couple of months time frame. Good Luck!
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GCEventsmoveGDX
2 years ago
My swing trading is two or three market sessions. Any more than that must have a monster move happening. If you are trading Gold Miners you are trading Gold. They move in lock-step. Just watch the 5 minute candles and see how close they are.
Long term positions are not safe because the market can stay irrational longer than you can stay liquid.
Do not believe what you read and hear,some say gold should be $1800 and some say gold should be $900. Both with good reasons.
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CosmicDust GCEventsmoveGDX
2 years ago
Understood. As for liquidity, I only trade with money I can afford big losses, so risk management is important. Thanks for your comment and good luck in trading!
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