AMEX:GDX VANECK VECTORS GOLD MINERS ETF
After further looking into it, it just screams a no brainer buy. Low marked on weekly and daily, Bounced off on highest historical volume of a 2008 low range. Markets are overvalued and had a huge runup for years. I even read an article that Russia increased its gold accumulation by 25%. Something is cooking
why? monthly looks low for me. Bounced off a multiyear low. Midst a market rally. There is a clear channel on weekly that has a 30% upside to the resistance. Note one more thing - on monthly, weekly price made lower low, but on several indicators its a higher low. So ill add divergences to that. I actually want to thank you for the chart - it lead to a series of events that made me find 2 funds where one is 1 day late of the other - so i can work with them with some heads up :) Ill be posting a chart soon based on your chart :)
well we still have half of November. And If we go higher it may even out. I wonder about MACD - it reaches to cross below, but now gold would basically slump. We had buyers on the 2008 level. It had to be a strong level, but i would wonder how much pressure is from top to drive the price past that level. The highest volume so far indicates a possible bottom. Month is not over so it is going to be even higher - but in the short term even getting back up to the resistance is a ~30% run.