As you can see GDX has been beaten down for years. Now its time to go long. We just crossed over 21 Month MA. Its bullish at this point and looks like it will hold(as gold is acting very bullish and getting attention from main stream Media). Last time GDX was able to close above 21 Month MA, was June 2017. Heading in to 2008 people where buying gold and selling...
This is the falling resistance (red line) that gold stocks need to overcome before they catch up with gold... gold is headed to $1700 in October 2019 once it closes above $1300 on the Daily, Weekly and next Monthly. And once it surpasses the $1360-$1380 overhead resistance area.
gold and gold miners have finished wave 5 at resistance. Price might retrace or go sideways. Watch closely the 0.236 to 0.382 level to initiate longs if you are bullish
Right now is a good opportunity for neutral trade setups: strangles, iron condors.....
I have been mistakenly bearish on equities lately. Hope this one is a better call. Stay safe, traders!
After completing the AB=CD pattern, GDX looks ready to go long again. We just had a very common 38.2% FiBo pullback. The MACD is oversold, and the TSI is crossing over zero. This is a 4 hr chart. However the volume appears to be dropping.
Notice on this chart the indicator lines curved down, while the price came up slightly and closed above the Blue line. This was our buy signal.
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MasterChartsTrading Price Action Indicators show good price levels to enter or exit...
I entered GDX & SLV data into my models today (eue-te.wb) and found that both daily models suggest that Christmas 2020 will be the next optimal buy point for the precious metals & miners.
brschultz aka markettimer777
Good day folks,
This is a comparison I made based on my GLD forecast for the next 12 months. I expect GLD to rise by 5 to 10% before year end. I calculated a few ratios and it appears that GDX moves exponentially with gold price (not a discovery I know). Basically, I wasn’t unable to use a distinct ratio, so I just compared their corresponding prices at the...
Relief Rally +TA pressure against Gold is going to dampen this multi-month support and rally
Short here down to 19.00-19.50 where +year longs can be opened
late 2019-2020 geopolitical uncertainty and third top for the bull market will fuel the bounce
Short GDX, Gold. Hitting $1280 previous resistance, 50% Fibonacci level. $GDX has hit resistance and cannot close above $21. Sold my nugt from 2 weeks ago. Now bought 1/3 of $dust for swing. January, markets may rebound, so metals go down. Will wait and see, Happy new year!