649bruno
Long

GDX: Looks Like The Gold-Miners Are Building Towards A Rally

AMEX:GDX   VANECK VECTORS GOLD MINERS ETF
86 0 4
Yesterday I wrote that there are two kinds of weakness.
One you stay away from, the other you take advantage of.
GDX-has gone sideways for quite some time. This may end soon with a strong up move. Here are the positives that I see:
1. BUY Fractals in effect (rectangle on chart).
2. 5 Impulse Wave and 3 corrective wave pattern completed.
3. Chop indicator (under chart) (indicates a trend or choppy action) is below the 38.2 shaded area, indicating a trending stock .
4. Phase energy (lower top indicator) is heading lower - look for this to reverse.
5. RSI / Stochastic (top indicator) is over-sold and heading up.
6. The Ichimoku Cloud is rising.
7. The trend-line is rising.
8. Shorter term charts show more dynamic positives.

I think the weakness in-GDX is one you take advantage of. I think a rally is brewing. Good luck to you. Don.
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out