I believe that all the information on the chart points to a big rally in Gold
price doesn't tell me anything right now, I've got whipsawed a few times on it, so whenever I don't see anything new, I keep my previous bias, which is bullish
, as you can see in the related chart. GDX
, on the other hand, has a much better picture. Everything here points upward. Classic price formation (inverted H&S
), massive bullish
divergences on all 4 oscillators, Volume
converging with price, and massive volume
increase last year which points to accumulation. All of this, very close to the all time bottom of this ETF
. Majorly bullish!
I see no information for the coming days/ couple of weeks, but I see a longer term rally coming.