VANECK VECTORS GOLD MINERS ETF AMEX:​GDX

$GDX has been the consolidation king for quite some time. Many big players have been gambling on the options of this fella yet the GDX refused to breakdown/up from the consolidation pattern. FINALLY, this fella broke down and this is just the 1st inning of this potential short which we will enter a short after taking profits.

Looking at the Gold Miners ETF GDX as a potential investment. Seasonally, PM's tend to bottom in July and December, but July didn't work out this year! So the market is showing what looks like a descending horizontal triangle targeting the point 16.30 which would be a price drop from the end of the triangle equal to the height of the triangle. The implication ...

If it was a true breakdown price should had opened by a gap and drop hard. This is going to be a false breakdown from the range. We will be heading to 25 $ soon.

I like to hear for people what they think about GDX

... for a .04/contract credit. Max Profit on Setup: $4/contract Max Loss on Setup: $196/contract (width of the spread minus credit received) Break Even on Setup: 19.96 Delta: 27.37 Theta: .43 Notes: Taking a small bullish shot on gold weakness here with a net credit, calendarized short put vertical. Naturally, I'm not collecting much credit here on fill, but ...

GDX broke trendline on a weekly basis with OBV breaking trend as well. Very bad signal for gold. 21.32 is the next support if this does not turn out to be a bear trap next week, and below that opens up 18 level. Overall this thing may not be a triangle at all. So what is it?

gold looks so bearish one more push down every damn trader is fascinating about dollar wait till dolalr crashes use options

Although gold futures finished fractionally higher on the day, it has closed lower on the week. This now marks the fourth consecutive week in which gold futures have closed lower and below the open on Monday. When we look at a weekly candlestick chart, we can see that even though gold closed, in essence, unchanged, it is a red colored candle indicating the close ...

long set up here as it hits a multi month support. Would get bullish over 22 with increase in weekly volume $GDX $GDXJ $NUGT $DUST $GLD

p-> r1

GDX has had support at around the $21 level since the beginning of 2017. Each time GDX has hit $21, the stochastic has hit oversold. Buying at that point, and holding until stochastic > 50 (or even stochastic overbought) would have brought decent profits. Well, GDX has hit support at $21 again, and stochastic is oversold. There's several ways to play this ...

Miners have been accumulating for years. Recent volume at lows suggests price might be ready for mark up. Classic accumulation setup in my opinion. Time for miners to lead metals up.

Reversal possible off lower E into the holiday weekend as the shorts have had their fill smashing gold. Now they will load up and go the other way for several months is my guess. The miners should lead the way as they did not break down like gold did which shows positive strength. IMO>

Eurusd at play here, clear trend down, gonne continue for a while.

As gdx meanders along, it is strengthening its case for a breakdown.

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A follow up to Sunday's video on Gold, the commodity, GDX looks like it is almost ready to break out of this consolidation. The fundamentals are clear and suggesting you want to look to this sector now! Hope you guys enjoy, I would love to hear all and any feedback. Have a great day all!

Just expecting minor movements if USDJPY remains in 106-110 trading range....