Over a period of time what is better to trade and invest in a gold futures based ETF or instead
the TQQQ , a leveraged and popular ETF tracking the NAS100 and NASDAQ. To analyse, this
I put NUGT on the daily chart and superimposed the price action of TQQQ.
Starting one year ago, NUGT had the better price action in an upward facing megaphone
pattern...
On a 15 miunte chart. CMCL is seen trending down and then reversing while
traders seek to sync it to the price action of spot gold. The chart demonstrates
price reversing on May 2nd out of an anchored VWAP breakdown into a
rubber band reversal into a cross of the mean aVWAP. The movement of the
PMO ( Price Movement Oscillator) confirms the reversal into a...
GLD has been trending up and the chart shows that volume is increased in April / May as
compared with March and is about relatively 2X. GLD is now priced at its all time high.
On the trendline drawn, GLD is rising at a rate of approximately 5% monthly. Gold prices are
reacting to economic uncertainties and the dollar value having its challenges.
Today,...
XAUUSD on the daily chart has a long-term cup and handle now in its final formation.
Spot gold price has risen above the lip of the cup and is in position to ascend from there
the height /depth of the cup for about another $100 on the current price based on
the pattern to occur over the width of the cup or about 6-8 months. Any gold related
instruments...
My earlier Feb 2023 flash report focused on a downside Change of Behaviour/Character in the uptrend of the Gold price from the Sept '22 low. At that time, there was a possibility that the uptrend ended.
I then expected the price to re-test the Feb high. If that re-test of the high failed, I would have been confident to conclude that the uptrend was done. The...
On the 4H chart, I show my analysis that JNUG is ready for an uptrend using the MACD / RSI for confirmation.
A head and shoulder pattern is followed by a downtrend which ends in a double bottom for a reversal.
I see the potential for a significant gain of the ETF and its call options over about six months.
See also my idea on XAUUSD / Spot Gold for a more...
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...
While Gold fell yesterday due to interest hike fears and China's economy.
I believe the Gold still has more upside.
Currently, looking at gold miners ETF. Believe that it might fall to support level ($26 area) and bounce back higher.
Aiming for around the $ 30 area..
However, should it break $26, I will exit my trade.
I rally between now and April-May looks like a good risk-reward, however those gains are likely to get faded very fast as capital flows back into discounted equities, and other growth assets
Of all the minerals mined from the Earth, none is more useful than gold (this is speculation). Its usefulness is derived from a diversity of special properties.
Gold...
notice the 2 previous bearish cypher patterns. The 1st pattern of the (X) leg appears to be acting as support. I'm looking for gold to get above the 2nd bearish cypher pattern, and Test its X leg for support. If it hold then Im looking for gold to breakout again above $1800 and retest $1840-$1850 area
The AD earlier this morning showed me an ascending triangle to...
The weekly chart closed the week nice candle that had a long bottom tail, albeit a red candle, but bullish indication here.
The daily chart had GDX gap down on Friday's opening, then rally hard to close a bullish engulfing, spanning across a resistance zone. This can form the higher low point later next week.
Indicators are not yet bullish, but candlesticks are...
A quick note to say that as previously expected, the deep retrace happened, and had bottomed out. The last week closed with a bullish candle with a 5 week high close, that bounced off support from the weekly 55EMA, and broke out of the trendline resistance. Technical indicators have yet to turn around.
The daily chart shows Friday's surprise surge in Gold prices,...
Just as Gold and equities plummeted over the last 4 weeks, GDX was in no way spared, losing at least 25% from 4 weeks ago. An absolutely deep retracement following Gold prices.
Daily candlestick pattern suggest a brief consolidation at current levels, 30-31.
Do not yet see a bottoming pattern... not yet.
Two weeks ago, a break above 40 was expected , and it just closed the week above 40, in good fashion if I may say so.
The weekly GDX chart followed the previous week's long tailed doji and gapped up, ending near the week's high, with yet another lower tail. Bullish candlestick structure here. Technical RPM indicator is supportive of the momentum, although the...
looking on the 1hr and doing an elliott wave count, I see one more possible retest to 2040 from the bull flag c wave up
both bull and bear. I would look to reshort from this point
It has been many fake outs, but yet again, the GDX is attempting to break out, one that starts with a nice long bullish marubozu type of candle on both the weekly and daily chart.
The weekly chart had a gap and run marubozu, with MACD turning upwards but not yet in bullish territory, nor clear of the 55EMA.
The daily chart had a decent long bullish candle that is...
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...
GDX have been so beaten for so long, and every previous attempt was not ready for that consolidation nor higher low. After a recent and decent break above the 55EMA, the Gold miners GDX ETF is retracing hard (as expected) and is now looking for a higher low, in about a week or two.
And with that, then we know the next run would be more robust.
