Precious metals have been performing very well over the past couple of months, price does not move in a linear fashion so do we careful near term as the risk of a pullback is rising.
A nice chart, useful also if you're trading #crypto $BTC $LTC $ETH (not for correlation, just because all the markets move the same). At big resistance area right now, pretty clear skies above, support noted below.
Simple up trend for gold. The chart says it all. Bottom of this wave is 1325 with a 2/3 week time frame before the move to 1360.
Important for longs to close week above cloud $GDXJ, $HUI, $GLD
level on this uptrend. looking for 24 short term $GLD $GDXJ
uptrend building momentum in gold long term. 1370/1400 key $GLD $GDX
Take profit bottom Stop loss = Invaldate if will break the channel up
after that 1500 can come quick. volume easing up $GLD $GDX $XAUUSD
once of them is going to reverse soon IMO $GLD $GDX $SPY
I entered GDX & SLV data into my models today (eue-te.wb) and found that both daily models suggest that Christmas 2020 will be the next optimal buy point for the precious metals & miners. brschultz aka markettimer777
Pure Gold Mining $PGM.v $LRTNF breaking out of 2.5 year base
After completing the AB=CD pattern, GDX looks ready to go long again. We just had a very common 38.2% FiBo pullback. The MACD is oversold, and the TSI is crossing over zero. This is a 4 hr chart. However the volume appears to be dropping.
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Gold has broken the downward resistance line indicating an upleg up in Gold and Miners.