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GDX

MASSIVE gains to be had in resource producers next 10+ years!!!Here you can see the ratio of XAU (an index of 30 precious metal mining companies) to the S&P 500 compared to the yield on the US 10 year treasury (orange line). As you can see, we have been in a falling rate environment ever since Volcker jacked up rates in the early 80s and put a floor under the value of the Dollar. XAU/SPX has followed the treasury yields down with strong correlation. Currently, treasury yields have no where to go but up, and the reversal has already started as you can see by the latest action. XAU/SPX has been consolidating since it bottomed in 2015, building energy for a massive breakout that will dwarf the last precious metals bull market (2000-2011). With rate hikes around the corner, weakening economic data, and suffocating levels of global debt, I know which bucket I would rather put my money and patience in.
TVC:XAULong
by HypnoticStrix
GDX Lame Duck ?This week, the GDX did a lame effort to test the 55EMA, if you could even call that a test. Hence, the 55EMA failure was pretty much a lame effort too. This downward consolidation is growing lame and old, but it does appear to continue perhaps for a bit more as I do not yet see strength in the accumulation... having said that, when it comes, it is likely to be rather overwhelming. For now, the same zone is pushed forward as a Buy Zone or Break Zone. This is like fishing... all is lame until the big bagger comes, when it really comes, it comes with a hard fight! Stay safe!
AMEX:GDX
by Auguraltrader
GDXJ The LONG caseWe are still at the early stages of a long term bull market LONG now between 50 and 44 it's a good call long term and still get 200% and counting. A drop in gold and the miners is still possible. Falling below 43 opens the doors below. Then a retest off the blue line makes sense. LONG between 36 and 30. Now if it falls further below it, be ready to empty your wallets and pick up at bargain price. It will rebound because we are in a long term bull market. These dips should be heavily bought. If it falls below 30 we are in luck, but short term pain. The 200 weekly MA will be around 40 Weekly and daily MACD & RSI will be low. Currently trading below 200 daily MA GL & happy trading
AMEX:GDXJLong
by leamese
GDX possible bottoming out... or?Over the last couple of weeks/months, perhaps even since Aug 2020, GDX had been a tad challenging but also very intriguing. Firstly, the number of fake outs by GDX is numerous over 2021. Secondly, it is followed by failures for lower lows. Third, an opportunity appears to be forming... it is almost time. The weekly chart on the left failed the 55EMA yet again, and returned to close near the range low, on a solid candlestick. Technicals are bearish, as is price action. The daily chart demonstrates how quick a breakdown it can have, but also appears to have bounced off a long term steady support. The candlesticks show a classic example of bearish outcome, and even a possible technical bounce in the coming week. Technicals however are skewed slightly towards bearish. Overall assessment is that we have a chance of GDX bottoming out, but also at risk of a breakdown, possibly.
AMEX:GDX
by Auguraltrader
1
GDX Fake Out burns badIn the last post on GDX, it was mentioned: "Oops... Gapped down later last week. Again, more downside, watch for breaking of the range into the Buy Zone, and more importantly IF the support holds (white line)." For most of the week, I looked like a fool... as GDX closed the gap, tested a minor support and then spiked a long candle above the daily 55EMA. I have to be honest, I did relook and asked myself IF I missed something, misread or was biased. And then comes Monday, and by midday of trading, the previous gap down is reopened. Together with re-entry of the consolidation zone (as expected), and a repeated failure of the daily 55EMA, this story now signals an exit on the other side of the consolidation zone. Candlesticks (weekly and daily) all appear bearish, and not even needing to mention the technical indicators. Notwithstanding, I am looking for a slight higher low from the 15 Dec low, in the Buy Zone marked, over the current week. Have to keep reminding myself to be patient. When it happens, it will be very obvious. Meanwhile, I am hanging on to my knickers! LMAO...
AMEX:GDX
by Auguraltrader
4
Gold to S&P 500 Ratio Reversal Imminent!The chart says it all. "Don't fight the Fed" works both ways. They are currently wrapping up the biggest QE, have multiple rate hikes planned for the year, and have even talked about reducing their balance sheet, which is QE in REVERSE!!! The over-valued stock market will falter, and the Fed will have to choose between rescuing the stock market or the value of the Dollar. Either scenario is bullish for gold. Expect gold to start it's next leg higher later this year. Good luck!
TVC:GOLD
by HypnoticStrix
GDX: Inverted hand and shouldersGold usually performs the last month of the year, entering a strong seasonal phase. Gold miners tends to anticipate gold's move. GDX is a Gold miners ETF . The price is currently reaching a resistance level. Should we be bearish? Not necessarily. If you look at the chart you can see an inverse head and shoulders , also called a "head and shoulders bottom". This pattern is similar to the standard head and shoulders pattern, but inverted. Investors typically enter into a long position when the price rises above the resistance of the neckline , which is currently between 33 and 33.64. As for the target, you measure the distance between the bottom of the head and the neckline of the pattern and use that same distance to project how far price may move in the direction of the breakout (see green arrow). The target I have is about 37.74. The pattern is only confirmed when the neckline is broken. If so, don't expect the price to reach its 37 target immediately. I have placed all the resistance lines on the chart. Trade safe!
AMEX:GDXLong
by Elpidaldo
DJI/GDX appears to be nearing completion of a top.The GDX, which is an ETF comprised of precious metals mining shares appears to be topping with a head and shoulders pattern when compared to the DOW. Basically when this ratio reduces the GDX becomes more valuable when compared to the DOW Jones Industrial average and broader stock market. This ratio appears to be trapped in the undervalued zone (for the GDX) and has been there for the last 8 years. We are still in a time with good buying opportunities for gold and silver miners, as the GDX is cheap when compared to the broader stock market. Sooner or later this ratio will break down lower. When it does what would you rather own? General stocks or gold mining stocks?
TVC:DJIShort
by WinstonWolfe
1
GDX An Incomplete sequence Favors More DownsideThe Elliott wave view in GDX suggests that the main cycle from the August 20, 2020 peak is showing an incomplete sequence. Favoring more downside to happen based on sequence towards $24.80- $21.36 area lower before a turn back higher happens. While the short-term cycle suggests that the decline to $30.05 low ended wave 1 of (C) in 5 waves lower. Up from there, GDX did an expanded flat correction in wave 2 bounce. While an initial 3 swing bounce ended wave ((a)) at a $31.59 high. Down from there, wave ((b)) also ended in 3 swings at $28.90 low. Then the bounce in ((c)) leg unfolded in 5 wave impulse sequence. In which, wave (i) ended at $30.16 high, wave (ii) ended at $29.95 low, wave (iii) ended at $31.54, wave (iv) ended at $31.19 low, and wave (v) ended at $31.77 high. Thus ended wave 2 as an expanded flat correction. Below from there, GDX declined in 5 waves lower & ended small wave ((i)) of 3 at $30.15 low. And now doing a 3 swing bounce in wave ((ii)), which can see $31.29- $31.51 area before turning lower again. Near-term, as far as bounces fail below $31.77 high then ETF is expected to fail lower looking for more downside. Alternatively, if it breaks above $31.77 high then it can even see $33.01- $34.77 area higher before seeing sellers again.
AMEX:GDX
by Elliottwave-Forecast
GDX consolidating to downside biasQuick update that previous attempt for GDX to rally up was pre-mature. Still not yet in a bull trend. Weekly chart had a break out above 55EMA fail in the last couple of weeks, only to bounce off a support. Technicals not totally aligned so may consolidate for a couple more weeks before some clarity forms. Daily chart (right panel) shows the failed attempt, which now has a clear resistance line (lime green). Last week ended with a failure type downward candlestick, suggesting weakness in a rally. Technicals appear somewhat bullish, in contrast to weekly chart. Expecting some consolidation, with a little downside bias within range.
AMEX:GDX
by Auguraltrader
Gold, 20 Dec. Forever $1800.Gold has been ranging for over a year around 1800, with deviations of +/-7%. Today here we are, back at 1800. Wyckoff: The range gives us a chance to do a Wyckoff analysis. It is possible to interpret the structure as a re-accumulation with a spring and two tests afterwards. We need to see the LPS and SOS phases next to confirm this interpretation. Elliott: We are able to count (i) - (ii) in blue and sub-wave i - ii (in green). If correct, we should expect a wave iii of (iii) that would bring Gold out of the re-accumulation pattern. Wave ii has retraced 78.6%. Geometry: The inside pitchfork provides us with diagonals that are well-respected by price. A break of 1878 would confirm bullishness. How I trade it: Most importantly, Gold has made a higher high, and a higher low, causing the MACD to crossover on the daily. We can now look for an active sequence that holds moving averages. If the wave iii of (iii) assumption is correct, we will see a swift move to the upside. The idea is to gradually build long exposure here, and exit the positions if price falls below 1770.
CAPITALCOM:GOLDLong
by UnknownUnicorn12250317
GDXJ LONG! Gold Miners bouncing off support. Entry = $43.55.Entered at GREAT price right up against Major Support. Usually I post pics with MACD. Today I am not. Showing this chart as prime example of how Price Action dictates trade. Only using a simple system of Trend Lines and Horizontal support and resistance lines and some observation of candle patterns and you have all you need to trade. Another trade BUY signal will be once we break above the recent high of Oct 25, 2021 @ $45.75. Entry = $43.55 SL = $41.89 Target Price = $54.86 R = 6.81
AMEX:GDXJLong
by eganon69
1
VOX PROVIDES DEVELOPMENT & EXPLORATION UPDATESBased on this strong operator progress, Vox management expects that 2022 has potential to be a record year for discovery drilling, engineering studies being released and projects moving into production.” Key Development Updates • Update on the feasibility study, permitting and construction financing at the South Railroad gold project in Nevada by Gold Standard Ventures; • First production guidance reiterated for H2 2022 at Bulong gold project by Black Cat; and • Substantial drilling updates at the Bowdens silver project by Silver Mines, the Higginsville mine by Karora, the Pedra Branca platinum group metals (“PGM”) project by ValOre, and the Uley graphite project by Quantum. South Railroad (Pre-Feasibility) – Feasibility Study Expected Q1 2022 • Vox holds a 0.633% net smelter royalty with advance minimum royalty payments over part of the South Railroad gold project, which is located in the prolific Carlin Trend of Nevada; • Vox received initial advance minimum royalty payments of ~C$100,000 from the South Railroad royalty in October 2021; • On November 10, 2021, Gold Standard Ventures announced: o It anticipates that the feasibility study for the South Railroad project will be completed in Q1 2022; o In-fill drilling results at the Pinion deposit indicates the possibility of converting approximately 350,000 contained ounces of gold for inclusion in the feasibility mine plan in Pinion Phases 4 and 5, expected to be majority royalty-linked based on historical disclosure by Gold Standard Ventures; o Expected timing of the Record of Decision permit is anticipated to be in Q1 2023; and o It anticipates commencing the construction capital financing process in conjunction with the release of the feasibility study in Q1 2022. • Vox Management Summary: The South Railroad project is advancing in line with Vox management expectations based on due diligence completed for the royalty acquisition in June 2021. The majority of the additional ~350,000 ounces expected in Pinion Phases 4 and 5 are expected to be royalty-linked and to generate meaningful royalty revenue for Vox. 2022 promises to be a transformational year for South Railroad with the release of a feasibility study, construction financing process updates and permitting progress. To read more of the RNS www.voxroyalty.com
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by TH_Analysis