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teckno05

$GDX $NUGT $JNUG Short play - Is this where you want to go long?

Short
VanEck Gold Miners ETF (AMEX:GDX)  
teckno05  
AMEX:GDX   VanEck Gold Miners ETF
Trend Analysis Support and Resistance Oscillators Gold short shortsetup short-term goldminers Bearish Patterns shorting
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trendanalysis supportandresistance oscillator gold short shortsetup short-term goldminers bearish shorting
I rarely post two charts in a day but this one seemed pretty good. Self explanatory chart, Classic support turned resistance. I also see divergence between the price of gold and the gold miners, with gold not moving at resistance and GDX pushing up. I think that signals GDX is over extended. I can update it later to put more detail if needed. Short/sell at the Red rectangle, cover at the green ones.

Keep in mind this is 2016-2018, seems pretty solid. If you agree/disagree leave a comment.

Update: Forgot to add there's a trendline we're hitting if you connect Jan 23 2018, July 10 2018, and now. That's lot of resistance signals in one place.

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