When the GDX/Gold ratio rises, the Gold Miners rise more relative to Gold. Seeing this ratio rise is good to confirm a gold bull market. Gold miners should do well in the coming years.
EARNINGS: There are a ton of earnings coming out next week, with the most options liquid plays to be had in AMD (44/71), TWTR (77/80), and FB (59/50). Pictured here is a delta neutral short strangle in AMD in the June cycle (54 days). Camped out around the 20 delta strikes, it paid 3.12 as of Friday close (5.6% as a function of share price) with break evens at...
$GDX testing UTL resistance along with a few other miners. Confirmation with break of LTL.
It now creates a great shorting opportunity
Gold has been consolidating right above the recent highs, since bottoming out last month, and looks prime for a breakout. I went long this morning right at the open on the gap up. Really like this pattern occurring in GOLD which could pick up some momentum near term. GDX is also a valid play for less risk. Entry - 12.10 Stop loss - 10.90 Target - 14/17.50
GDX breaks out from a 7 year Resistance and looks to head higher to 55 in the next year. Fueled by rising gold prices and low oil prices.
Elliott Wave view in Gold Miners ETF (GDX) suggests the rally from March 16, 2020 low is unfolding as a 5 waves impulsive structure. Up from March 16 low, wave (1) ended at 27.21 and pullback in wave (2) ended at 23. The ETF then extends higher in wave (3) towards 32.27 and wave (4) pullback ended at 29.37. The 45 minutes chart below shows the internal of wave (3)...
consolidating nicely, breaking out of one wedge, and now holding strong. a break of 31 should give way for a quick move to 32 retesting the multiyear resistance above. $GDX $NUGT $GLD
EARNINGS: IBM (63/54) announces Monday after market close. SNAP (92/102) announces Tuesday after market close. NFLX (66/70) announces Tuesday after market close. EXCHANGE-TRADED FUNDS ORDERED BY IMPLIED VOLATILITY RANK/PERCENTILE SCREENED FOR RANK >50/IMPLIED >35%: XLU (77/47) GDXJ (77/84) GDX (67/65) SLV (66/45) TQQQ (63/111) USO (62/112) XLE (59/70) EWW...
Gold (AUD) Daily chart- Ascendening Broadening Wedge.
It's a pretty well defined channel so is this the start of a larger, longer run? I recommending googling "trump gold fed".
$GOLD Textbook Nike Swoosh Pattern Forming $GLD $GDX $XAUUSD
Let's remember John Murphy's intermarket wisdom, we'd like to see the dollar weaken if a new bull market in Gold is to occur.
kinda bearish for the short term super bullish mid/long term for gold and gold mining stocks GDX
While the stock market isn’t seeing the strong bounce that the Federal Reserve was trying to manifest via trillions of freshly printed dollars thrown at the bond and credit markets, gold is loving the massive increase in the money supply. Price is currently testing highs not seen since October 2012 near $1,800 which is where the current resistance level rests. ...