I will post a very interesting chart. Gold miners seem to be giving up the rally. In the past when SLowSToch and RSI got oversold it was the sign of the daily cycle low. I think this will be the same. As today we broke out of the Bollinger Bands I have to say we are very close. Volume is supporting us : we will have a bounce tomorrow or Thursday. In the last half year during the initial phase of the miner bull rally we broke out only once of the Bollinger Bands: at the last ICL (25.05.2016.)
50 EMA was supporting the rally all the way up. Today we are at the 50 EMA.
We are talking about gold as a weak vehicle now. But if we are watching how gold was moving together with GDX in the last half year we have to say now that gold is not following the miners in this dip. It's not weakness, it shows strength. If miners are bouncing tomorrow or Thursday we will get our gold pop also.
I'm buying GDX , GDXJ up to 20% margin impact.
Comment
⋅
We had a big contract dump today at 7:40 EST in gold. Miners will open with a GAP. If we fill the gap immediately after the open someone just pushed down gold's price to get a better entry price for the miners today.
Comment
⋅
GDX is out of Bollinger Bands. This will not last for too long. We are bouncing soon.
Comment
⋅
Buying 10% GDX and GDXJ . Margin impact is moving up from 20% to 30%. Price is 28.14 GDX
Comment
⋅
46.13$ GDXJ
Comment
⋅
Sea of red. Stocks, oil, gold, miners, Euro. They are selling everything except NatGas and the Dollar...
Comments
Nightstar
⋅
By the way folks.. the time to buy is when you're scared senseless :)
pbartashevich
⋅
For Silver something like that. So I am optimistic here. Assuming we are in bull market :)
pbartashevich
⋅
I am hoping for this scenario. If that makes sense:
UNLIMITED
⋅
gold is insidiously falling ... step by step ... target 1256, 1212 & 1204
or do you think that Rothschild, Illuminati and Bilderberger would allow unhindered gold rises? watching very carefully what will happen next?
alan_watch
⋅
1256 likely 1212 and 1204? lol where r u getting those numbers from? ofc unless September NFP is like 500K then yes it's possible lol
chartwatchers
⋅
bears are back from the caves. good sign that we are bottoming.
I dont see anything at 1212 or 1204.
1199 and 1250 are the levels though.
BUt I dont think even 1310 will be taken out.
kizly
⋅
Did you ket GDX & GDXJ till current bottom?
kizly
⋅
kept sorry
chartwatchers
⋅
Yes. We are the DCL.
kizly
⋅
Thks for fast answer. Hope that this slide was not because some money new that rate hike could come and that they were preparing better entry position.