$gdx $gdxj $nugt $jnug $jdst $dust $slv $gld I'm bullish on hard assets- watching for possible leg down. A higher high will invalidate this.
Weird price action for GLD last thursday, as gold futures were up 2% and GLD was only up 2.6%. While senior gold miners index were up 10%, such as NUGT or NEM exploded for 13%. Possible bearish triple top or bullish Inverse Head and shoulders? April 7 COT report was mixed as well, Non-Commmercials were Long, while Commercials were short. FOMC is not for 3 weeks,...
$GOLD HIGHEST DAILY+WEEKLY CLOSE SINCE JAN 2013!! $GLD $GDX $XAUUSD
Cycles analysis indicates one more major deflationary move to occur. A selloff approaching for XAUUSD down to support levels near 1380, as well as a retest lower for gold miners. To be followed by a longer term major buy setup for gold. Let's remain objective and not get too excited just yet!!
Gold spiked to a multi-year high at $1742 Tuesday night and corrected to $1671 Wednesday morning - gold needs to close above $1700 to confirm the next leg higher. Gold stocks need to be leading to stage a major breakout above $1700.
It is dangerously trading right at the trendline, breakdown is very possible
If it breaks it would create an opportunity for a short.
$GDX Nice break-out here. Be aware that this is a highly manipulated asset, so set your your stops on a closing basis.
Gold (AUD) daily chart- Following orderly uptrend. Yellow line- 20 day simple MA.
Gold saw a strong quarter with an opening price of $1,521 in January and a closing price today of $1,637 for a +7.6% gain in the first three months of 2020. This comes after price broke above the 38.2% Fibonacci retracement level in the second quarter of 2019 which was a level that acted as resistance during the 6-year bear market after price peaked at an...
AMEX:GDX AMEX:GDXJ are headed down to the toilet. Symmetrical triangle is a continuation of the previous trend, which is downward. Target is down around $5 or less. Gold is a lot different from the gold miners.
GDXJ failed to close above a key resistance level of $30.70 on Friday and it is highly likely that for the month of April, the miners (and Gold and Silver) have topped. At this point if you follow my ideas, Gold will sell for liquidity in the near-term for the second wave of the downfall of equities. Investors should remain totally on the side-lines for the...
I think people will bail to cash USD will rise OIL will fall Markets will fall this is the GREAT GOLD prediction from MISS CLEO call me nowW!!!
Thanks for watching. Please support my work by sharing this video with other investors and traders. Don't forget to smash that like button here and drop a follow. See you guys tomorrow. Take it easy. ~Bo
To be taken with a pinch of salt. The theory is relatively simple. When the VIX and Gold Silver ratios get so far out of the normal range, they tend to reverse but slowly over time. This usually leads to a bull run in the GDX and Silver prices if played out similiar to 2008. I would anticipate the Gold and Silver miners and Silver to be a buy in the coming months,...
Weekly target of $23, long term target ETF delisted. Gold mining companies derive their value from the gold they produce. Their value will never increase in a greater percentage vs. actual gold because paper traded gold does not have the same built in overhead costs that companies have. Owning gold mining stocks, ETFs, baskets, etc. have no relation to the...