Notice how Gold is moving inversely from HUI
-priced in small cap miners ETF- since Jan 2013.
My view is it pays at the time being to be in
well financed, little debt small company stocks.
Ratio currently at the lower boundary of possible
megaphone pattern, right below of the non confirmed
yet H&S's neckline. All eyes in yellow box, wick tail of
June 16th...
The title by itself is indicative of any possible trade, but it's more of an opinion than a trade opportunity, as probabilities here on an R/R basis, are not the best, which should be our only criteria.
As you can see in the attachments I was very positive and enter full long precious metal (jacked?) positions, on spot, futures,stocks and bullion more than two...
Recently, the gold and gold mining stocks have surged higher over the past three weeks. The highly followed Market Vectors Gold Miners ETF (NYSEARCA:GDX) jumped higher by more than $4.00 a share since May 29th, 2014. Today, the Market Vectors Gold Miners ETF is trading lower by 0.37 cents to $25.90 a share. The GDX is now overbought on a daily chart, so a pullback...
A Gartley and a Cypher pattern is pointing to the same exact destination for a sell reversal. We have previous structure at $31.31 & $29.38 coupled with confluence with two 1.27 extension ratios. $29.95. and $28.96 at the .786 retracment will be our kill zone.
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For inquires of...
I follow this closer than normal the last two months, as we are approaching one of good periods according to seasonal historical data, that usually price starts bottoming around June/July and rally late July to end of September.
www.seasonal-charts.com
This is the same chart posted a couple times before, but the rounded bottom I was hoping for starts to...
RSI seems to be in a uptrend channel, red arrow depicts the up scenario (potentially reverse head and shoulder), and the blue arrow depicts the down scenario.
GDX needs to move back above the averages and clear above the recent pivot high at $25.34
That said, the chart still seems to look more bullish than bearish..
SPY has formed a shooting star Doji near a all time high, which is likely to form tomorrow. A red candle tomorrow would confirm an evening star reversal pattern. Also notice the mini Head and shoulder within the larger Head and shoulder pattern. The major resistance and support levels are labelled @ 184.62. 181.31 and 174.03, would be places to take profits at...
This chart shows the year to date performance of gold vs gold stocks. We see that gold stocks of all kinds have outperformed gold itself. GDX is an ETF of larger, more established miners; GDXJ is an ETF is an ETF of junior miners. RGLD, SAND, and FNV are royalty stocks, which are basically firms that invest in other mines in exchange for a share of their output....
Some charts are broken, others are difficult to understand, some are messy and others are beautiful.
This one is beautiful. Respects trend lines, fibs, divergences, or anything else that traders use I guess to place their bets.
For me it's just polarity perfection. The way support becomes demand and vice versa.
So far price is following the path of a bearish...
GDX seems to have formed a rising RSI channel. Wait until the lower bound is touched or resistance line is broken and find a good entry at that time. Need some patience.
Miners working on a bullish engulfing week so far and a right shoulder against the metal.
If symmetry is any guide, hints that we will have maybe another month spend in this bottoming IH&S formation.
Cheers
P
The piercing line candle in the Juniors/Large miners got confirmation and the NUGT trade opened.
Needs a lot of work, as PM complex is in a downtrend, but the chart present a possible ABCD, a C&H pattern, a falling bullish wedge that is about to break and everybody I know or I read is bearish or short gold and miner stocks.
A lot, and I mean a lot of junior...
Juniors/Large producers ratio put a piercing line candle yesterday in the daily (not shown), right at the last weekly support/demand zone.
If confirmed, might be a good signal that Gold has a chance to go higher like the last time it happened and fight the outside weekly reversal which is an ominous sign on its own.
A close above 1,52 in the ratio will be good...
It' hard to narrow down exactly where the QQQ's could hit resistance, since the SPY/DIA are still above their pivots. But I have two tentative points. Either we test the 50 ema and sell or form a H&S pattern. Both scenarios will favour my bullish gold thesis. Although i prefer the former. (as GDX is at it last level of retracement before turning bearish.) The...
With the gold miners stocks tend to have a very volatile behavior. They correlate with the equities market as well as physical gold. Hence they tend to gap up and down. That's just its personality. Looking at the long term view, it still looks bullish and the inverse head and shoulder is still intact. Possible morning star reversal forming if it if gaps up...
