finbits

Speculative long idea for Gold Miners ETF

Long
AMEX:GDX   VanEck Gold Miners ETF
Guess it is possible to get 15-20% gain here in less than 2 months.
  • The Bearish ‘Bat’ pattern is forming, point D can be near 16.
  • Bullish Harami near the lower Bollinger band can be treated as a reversal signal in a short time trend.
  • Point D is on the way of 200 day MA.
  • A positive gold seasonality from the end of December till the beginning of February can be a fundamental support for this assumption.
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