metals are strong broke 50 and 200 day look for minor pullback and then run
I know nothing of gold except what ZeroHedge tells me to think, but, boy, that's a lot of volume. Maybe time to ease in this or NUGT if you think an up trend is beginning.
The Junior Gold Minors GDXJ finished a wave 3 down on the daily chart. It has now completed an abc correction into wave 4. The MTPredictor indicators generated a TS2 automatic sell signal at 27.14 with a stop at 29.77. The initial target is 21.99 which is the minimum wave 5 target. If price does not hit 27.14 (the entry) and instead moves above 29.77 first,...
The accumulation is actually up, which hopefully means people are buying at this level, establishing a new support. I'm not jazzed about a $330-350 support level, but it's better than not knowing where the floor is at. Still, my miners are shut down, until it's cool enough to use them for heating, or BTC goes above $400 again.
You will see this base across many gold related stocks including the miners. Looking for a continued move higher out of the base. Will most likely use the daily stochastics to time exit. If we cross back down on the daily stochs I am out . also Like the GLD, and holding GLD
JNUG has been in an ascending price channel since near the beginning of June. As of 7-23-14 12CST, it is nearing the bottom of that channel. Currently indicators such as EIS, PSO, BB Impulse, MACD (see indicators underneath price chart) indicate downward price momentum. However, there are some indications that some of the indicators could reverse. Should the...
Recently, the gold and gold mining stocks have surged higher over the past three weeks. The highly followed Market Vectors Gold Miners ETF (NYSEARCA:GDX) jumped higher by more than $4.00 a share since May 29th, 2014. Today, the Market Vectors Gold Miners ETF is trading lower by 0.37 cents to $25.90 a share. The GDX is now overbought on a daily chart, so a pullback...
A Gartley and a Cypher pattern is pointing to the same exact destination for a sell reversal. We have previous structure at $31.31 & $29.38 coupled with confluence with two 1.27 extension ratios. $29.95. and $28.96 at the .786 retracment will be our kill zone. ****************************************************************************** For inquires of...
With the gold miners stocks tend to have a very volatile behavior. They correlate with the equities market as well as physical gold. Hence they tend to gap up and down. That's just its personality. Looking at the long term view, it still looks bullish and the inverse head and shoulder is still intact. Possible morning star reversal forming if it if gaps up...