Chart School 101: A Warning For Goldbugs: Part 2 Of 2

64 0 4
Yes, I am positive about GDX             . But don't forget the big picture. Above is the chart of GDX             , which has risen a lot since 2016 began. Again, the pattern I have highlighted is called a "Bearish Continuation Wedge". This indicates that if support is violated at about $19.80, the price could fall as much as 50%. If this stock ( GDX             ) stays in an uptrend, the prices will continue to rise above the lower parts of the WEDGE . The bar-type oscillator on the bottom is warning me that the phase 2 pulse energy of the price action is weakening. Some would argue that this is a great entry point, but it is risky. For the record, I am positive on the outlook for GDX             , but always be alert to where the vehicle you choose ( stock ) has come from. GDX             has almost doubled since the beginning of 2016. The most important word for you today is "caution". I feel that gold             stocks will continue to jump higher - just don't chase them.
I hope this has been entertaining, helpful, and informative. I also hope it saves you money. Yours for better trading, Don.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out