It has been a while since it would be even worth to look into GDX, and I think it is about time... still early, but good to plan ahead and see if it is working out as projected.
GDX (Gold miners) mounted a good recovery but stalled on a trend line and retracement is likely to see 27, else 25.
The technical indicators (MACD and VolDiv) are turning bullish, but...
Endurance Reports Results at Southeast Eagle - 139.9m of 3.05gpt Au including 12.9m of 12.85gpt Au & 11.8m of 6.21gpt Au
Vancouver, British Columbia--(Newsfile Corp. - January 12, 2023) - Endurance Gold Corporation (TSXV: EDG) (OTC Pink: ENDGF) (FSE: 3EG) (the "Company") is pleased to report assay results from the 2022 diamond drilling program at its Reliance...
Some years ago, I was in between putting a big position on in SLV or GOLD (formerly ABX) at the $17 level. Both were equally priced. Barrick far outpaced SLV into the forthcoming rally and I regretted not buying it at $17. At $14 - 15 this week, I opened a long position. One thing I read and liked is that future Barrick dividends will include participatory...
The gold miners ETF, GDX, just points to a very very rough time.
With the interest rates escalating rapidly, the USD rising swiftly, the equity markets weakening, and gold prices crumbling... it is a perfect storm for GDX thrashing.
The weekly chart had a tombstone doji the previous week as it failed the Hull EHMA, and the past week confirmed the trend reversal...
Newmont gold miner, after more than doubled from a 2016 Cup & Handle formation, came back down to retest the neckline at around 40. As you can see in the chart, it reached the top of the 2009 channel near 85 on
April 2022 & went vertically down to retest the channel base near 40, with the usual chopping near the mid channel dotted blue line.
Very bullish cases:...
GDXJ is still hesitant to finally complete wave ii in magenta and is turning downwards again. As it can, of course, use the whole magenta colored zone between $37.26 and $24.77 to finish the overarching downwards movement, we give the ETF some more time to get its work done. However, as soon as wave ii in magenta is through, GDXJ should veer to the north, crossing...
AMEX:GDXU
As illustrated on the one-hour chart GDXU has reversed a downtrend as indicated
by the EMA crossover and so on. Support and Resistance lines are shown.
Price is well below the SMA200 and thus undervalued as compared with historical data.
I see this as an upside 30 % long setup with reasonable risk. Once the trade
progresses perhaps 10-12% in price...
AMEX:GDX
Based on the 4H chart as well as the price action of spot gold
using an EMA ribbon cross-over as well as the volume profile,
I have set up a long trade with two upside targets of about
10 and 20 % upside respectively with a stop loss of about
4% which would be adjusted as soon as the price rises above
$ 27 to move the stop loss to the entry price...
The bears have grabbed Barrick and are dragging it along southwards to the warm and sandy beach strip between $11.97 and $6.32, which is seated picturesquely below the support at $12.65. Once there, though, there’s not too much time to relax but also work to be done: Barrick should finish the long-term corrective movement in the form of wave (2) in yellow....
GDX, the gold miners ETF which once had a lot of potential is now in the doldrums. Having hit 41 in April 2022, it had almost halved within 4 months. Recently, an attempt to consolidate and rebound is seeing a lot of challenges. First, the Gold prices are in a bear trend, secondly, rising interest rates hurt the miners, third, the weak equities market also affect...
MGI reported high grade Gold intercepts of 3.47 m of 13.90 g/t and 9.30 m of 4.51 g/t and appears to be mispriced at $1.8M market cap. Comparables trade at multiples more.
We hope you’ve all got your popcorn ready because it’s getting more and more exciting here! GDX has reacted to the upper edge of the magenta-colored zone between $19.52 and $27.49 and has slowed down its upwards movement. Although the ETF could directly continue the ascent, we still give it some more room and time to finish wave in magenta a bit deeper in the...
Quick note that the GDX is finally recovering.
After about 8 weeks, and a consolidation range, the GDX appears to be recovering with a nice gap up on the weekly chart. Technical indicators are turning up, and the daily chart would be testing the 55EMA soon...
29 appears to be a very strong resistance to break.
Weekly chart analysis shows that we are in a bit of no mans land here. Weekly support here on WEMA 200, but if my analysis is correct W2 should actually drop to $1,370.00 Before starting the next leg higher.
So left to be seen I guess. either way $3,000 plus is soon on the way IMO.
Newmont ( NEM ) stock prices have been falling precipitously, halving in value from highs of $86 in mid-April, due to lower gold prices and rising input costs weighing on the company's earnings.
On July 25, following the release of the disappointing second-quarter results, with EPS down to 0.46 (-30% lower than expected), the world's largest gold miner fell to...
Just like many of the other commodities, Newmont mining looks overextended and is starting to turn over.
Because of how quickly it ran, I think we're likely to see a violent snap back in price back to the February lows.
I can see price going to the $60 range before continuing up and/or retesting these highs as resistance.
GDXJ is still acting squarely in accordance with our expectations and has advanced into the magenta zone between $37.26 and $24.77, where it should soon finish wave ii in magenta. Afterwards, GDXJ should turn upwards, crossing $36.58 and heading for the resistance at $51.92. There remains a 30% chance, though, that the ETF could fall through the magenta zone and...
GDX seems to be doing a BIG UPCHANNEL started from the 2016 low & retested at the 2018 low. If this lower channel is to be retested, GDX may bottom at the 24 green zone. This is the most probable since this is also the 2016 VWAP & the FIB 0.618 retracement from 2016 low.
However, if you look at the VOLUME PROFILE, then GDX may fall more to the 21 zone to create a...
