It is uncharacteristic for the miners to lag in this way, usually, it goes the other way around. The explanation is simply that the S&P is near all-time highs and has signaled repeatedly to short the gold mining companies and ETFs. GDX resistance in the $31 region is not likely to hold this time. Gold miners are seeing all-time record profits due to gold...
To me I am finally getting a buy signal on miners. GDXJ has been supported by the 50 sma and is getting a move higher. The upper trend line was crossed, BUT we didn't close above it yet. I do see a cross of the 8sma and 13ema which is a buy signal. I had a buy signal on AXU yesterday. Pretty close to lift off.
A new top will likely happen on the upper edge (blue band) of the pitchfork, followed by consolidation. Global fiat currency debasement, combined with geopolitical risk and global economic slowdown; make Gold an attractive hedge.
Look for convergence on the ADX and DI indicator to find the next top and consolidation level. This will likely happen on the upper edge (blue band) of the pitchfork. Global fiat currency debasement, combined with geopolitical risk and global economic slowdown; make Gold an attractive hedge.
Looking at the breakdown of the top 3 holdings $NEM $GOLD $FNV and the rounded bottom here on NUGT we might have a nice move to the upside with the seasonality of the gold sector and the Gold futures hitting breakout highs. We will see if we hold the highs this week on the Gold Futures
Look for convergence on the ADX and DI indicator to find the next top and consolidation level. Global fiat currency debasement, combined with geopolitical risk and global economic slowdown; make Gold an attractive hedge.
Miners have yet to catch up to XAUUSD, It looks like Gold at $1620 will happen within the next month. I estimate that would take NUGT to ~$54.
The otherwise bearish gold chart may not touch down on $1400 to $1420 as many expected it to. Trade wars and tariffs along with the debasement of all fiat currencies may trigger the return to higher gold prices. Gold bugs who have been frustrated again and again over the last 5+ years may now see another large scale move as short positions are covered heading...
Gold has reached the target I mentioned on my last idea AND without much retracement. At this point it's best to take profits on gold longs or tighten stops. a decline to 1430-1400 is probable at this point and then a rally to next target 1587 **If you're interested in joining a group of like-minded traders, send me a PM. This is NOT a subscription service, just...
The ascending triangle in the gold price displayed here: Has produced a double bottom and bullish XABCD pattern displayed above in pink on the $JNUG chart. A return to the recent highs will likely send $JNUG back into the $76 to $83 range. Gold is, momentarily, no longer inversely correlated with the stock market. Negative real interest rates globally and...
The ascending triangle in the gold price displayed here: Has produced the consolidation wedge displayed in the green triangle pattern above in $NUGT. A return to the recent highs will likely send $NUGT back into the $36 to $38 range. Gold is, momentarily, no longer inversely correlated with the stock market. Negative real interest rates globally and the...
Gold is, momentarily, no longer inversely correlated with the stock market. Negative real interest rates globally and the inverse correlation with USD is now the primary driving force in the price of gold.
Pretty messy DW but I like it for a long selling premium on it, sold 25 puts, bought 20 puts for a bull put spread. 163 credit received, 37 days out
$xauusd $xagusd $gdx $dust $nugt $gdxj $jnug $jdst $dxy $silver $gold I'm looking for the dollar to continue these natural cycles and form a low towards end of 2020 watch for a possible spike before the low. Gold, silver will most likely sell off again and offer another very good opportunity.. perhaps we'll see a huge rally in precious metals through 2020. Buckle up.
A US manufacturing recession may be upon us. Gold breaking out of the parallel downward channel and headed back to $1500. If $1483 holds as support in the comming daysI expect to see 1620 by mid-november.
Expecting an inverted head and shoulders reversal pattern to ignite a chain reaction bullish trend all the way up to an initial target of $1600. See chart for details. Good time play the miners IMO. JNUG NUGT AMEX:GDX AMEX:GDXJ AMEX:GLD TVC:GOLD OANDA:XAUUSD OANDA:XAUEUR Good luck!