Apple, Advanced Micro Devices Inc, Amazon Com Inc, TESLA INC, NETFLIX INC, Facebook Inc
S&P 500, Nasdaq Composite, Dow 30, Nikkei 225, DAX Index, FTSE 100
US 10Y, Euro Bund, Germany 10Y, Japan 10Y Yield, UK 10Y, India 10Y
Gold, Brent Oil, Crude Oil, CFDs on Natural Gas, Palladium, Silver
Bullish setup for Uptrend targeting 29 . Resistances 28-28.5 . Stop loss 27 . Best entry at 27.25
Short term Elliott Wave view on Gold Miners ETF (symbol: GDX) suggests it is now correcting cycle from November 1, 2019 high (28.22) as a double three Elliott Wave structure. Decline from November 1 high (28.22) ended wave A at 25.98 as a 5 waves impulse. Wave ((i)) of A ended at 27.65 and bounce in wave ((ii)) of A ended at 28.05. Index then resumed lower in wave...
The weekly chart for GDX has created a bull flag pattern. The stock is finally breaking out with the market weakness. I am aiming for the $37.30 price level as a potential target but the prior $31.30 level could provide some resistance. Of course, if the market finds strength again then be ready to take your profits on this one quick.
Update: GDX-is weaker than when I published the negative (sell) chart four days ago. It is down another 6% since them. Here are ONE DOZEN negatives I see in-GDX, and why I feel this-ETF is a sell: 1. Sell Fractals in effect (red rectangle on chart). 2. Alligator jaws opened in tandem with sell Fractals. Alligator feeding in down-trend. THIS IS YOUR DIRECTIONAL...
There is an obvious expectation of a final bounce along the down trending support set to propel gold upwards, based upon 3 factors: 1) "Market goes down, Gold goes up", 2) Sentiment surrounding an "inevitable" downturn in the market to come is a powerful proponent, and 3) Chart indicates a high likelihood of a rally in Gold, if the first 2 factors begin to...
But strength feels somewhat fleeting. Between yesterday and today dow is down 700 points and gold is only up $16 for the two days. GDX has broken out of downtrend. RSI and MACD favorable. Still has some room to run but I will post a chart of GLD and show that it has not broken out of its downtrend yet. Do the miners lead the metal or vice versa. We will see...
Still looking bullish for GDX. RSI back above 50, 30/100 MA moving toward crossover... may be a bit early to buy aggressively but the breakout (up) looks to be before EOY.
GDX buy signal on Daily. About to cross 10WeekMA for strong bullish continuation. Anytime 10Week is crossed we see bullish confirmation (weeks). Trend turned bullish on Filter Dots. Gaps to fill above in the $30's imply over 30% gains from current price. Not sure if we get this high, but bullish trend just starting today/tomorrow. SPY looking to go down soon. ...
Looking for mid-term BUY on GDX, fullfilling a few criterias - Supply drying up on the second bottom and notice some DEMAND coming up - Bullish Engulfing Pattern - My Trading Indicator signals a buy above 26.52
It looks that way to me. RSI up trend just about exhausted and MACD has been indecisive for a while. 26 or so seems to be the line in the sand. I remember when it broke out this summer and took out 25.71 which was the prior peak that started the sideways action that lasted for 15 mos. Just seems like the selling is drying up but that may just be wishful...