After a huge runn up today on NUGT, you might want to think about locking in gains. Notice previous tops happen a few days after huge runups. Also check the %R at very over bought numbers. I'm not saying time to jump into DUST. I just expect a pullback..
Whether you're interested in hedging your long gold position or simply want to take advantage of a potential decline in the gold miners, the gold miners present an appealing opportunity in capturing alpha.
GDX, Looks like the miners are getting close to a buy. The RSI is approaching the oversold area on the daily chart. I expect a week of consolidation (note similar blue boxes) with a drifting down to the $12.72 area. This will be the BUY. It will give the daily chart time to reach way over sold. Then we can jump in and get a $2-$3 jump in GDX. We will sell when the...
GDX-NUGT, miners have a psuh over the trend line, or a fake out and are now set to make a small move higher. Look for a 4-5% rise to the $14 range. Looking at the 1 hr RSI for a 82 to sell. Looking at the longer 4 hr chart, there may be room to move higher. Good luck
Permanent gold bottom in 1046, hourly chart shows the third wave in the making follow-ups to the region expected 1117-1130
I will follow this on lower time frame so if you want instant notification when I post trade setup please follow me.
XAUUSD or Gold has reached an overbought position. Similar to previous time, as noted by the red circles you can expect a pullback to consolidate. I do expect the uptrend to continue this may be a buying opportunity.
BTG Gold Corp may be the leader out of the bottom for Gold Miners. With the RSI approaching overbought we can expect a nice pop to the upside. Wait for the tag of the trend line then go long.
Go long? If you believe history repeats itself. Notice the overlaid gold candles, they represent the last smack down we had a few moths ago. They fit pretty well as to what has already happened. If true to the course, we should move into a nice rally soon.
Gold mining stocks have been trending higher, along with the overall U.S. equity market, of late. The recent support in gold prices allowed the Market Vectors Gold Miners ETF (GDX) a strong close last week, pushing 15 percent off the November 18 low.
Gold mining stocks really get a pass from traders, and it is still early to determine whether the move will last...
Friends,
With recent news of $GLD from Stan Druckenmiller positioning, I decided to pass the ETF through the Predictive/Forecasting Model and other technical screening combs:
PREDICTIVE/FORECASTING MODEL:
The "Model" suggests a higher-probability decline with the following targets:
1 - TG-Lo = 97.65 - 17 AUG 2015
and
2 - TG-Lox = 86.37 - 17 AUG...
In " Gold Leaps Higher as Worries Mount ," I briefly pointed out how those very same institutions that championed quantitative easing policies implemented by the Federal Reserve are now coming out to proclaim quantitative easing added no substantial benefit to the real economy .
Gold was pushed lower on the assumption that central banking policy would all pan...
Past ~1.5yrs the ratio between SPX500 and gold (XAUUSD) has followed a channel defined by a 3pt trend line on top and its parallel 2pt trend line below.
Currently close to its upper limit. The past 2 peaks were "resolved" by a short term increase in the price of gold, thereby lowering the ratio (increasing the denominator).
Alternative resolutions include:, SPY...
4 hour chart shows the Hust Cycle cross over to bullish price movement followed by this evening's open with a thrust toward the very critical 1220. Break out above 1220 should hit fib extension target at 1260 by end of week.
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.
Given the large gains seen over the last two days, there could be support in the cards for leveraged minor ETFs following profit taking. NUGT, Direxion Daily Gold Miners, is the 3x leverage of the Market Vectors Gold Miners ETF (GDX).
Price action is heavily to the downside, reaching support at $9.11 – forming a triple-bottom on the two-hour chart. Price visited...
