break past trend resistance/30.25 and GDX may finally start to break out of its downtrend!
a rally to 32.47-35.68 should follow if we get that bullish breakout
boost and follow for more.. thanks 💜
Spot gold and GDX are both showing reasonable strength today I'm wondering if they can keep it going at all. NEM and WPM both seem like they're trying to pull off a reversal so it's possible at least something can be gained here.
As you can see from the chart, listed above are the bullish and bearish counts for Elliot Wave. The current PA suggests a bullish bias however if tomorrow FED raises Interest Rates or is Dovish. We could see the bearish count in play which means ABC in red is complete and the downside target is 28. Now the PA can push through the invalidation level of 30.3 and...
A significant straddle on GDX was concluded at the end of trading on September 06 on the AMEX exchange.
IMPORTANT! Based on our team's research of the options market, we expect buy activity at the support level or sell activity at the resistance.
We primarily consider levels to be activity zones, but not to be a super-fine level for establishing a limit order....
Folks ....view this nice bounce on exact point that i have mentioned to you ..... interesting enough.....
my last analysis:https://www.tradingview.com/chart/GDX/T4rwl6m2-GDX/
GoooooD LucK
The short-term Elliott wave view in GDX suggests that the cycle from the 5 May 2023 peak is showing a 5 swings lower low sequence in higher time frame charts. Supporting more downside in the instrument. The decline from that peak is unfolding as an Elliott wave zigzag correction where wave (A) ended at $30.11 low. Wave (B) bounce unfolded as a lesser degree flat...
Hi,my first target for going long on GDX is 27.5__28....be ready for that ,by the way i will start that after gold decline....
what is your comment ?
Good luck
GDX has a fairly clean set up if one looks deep enough. If Algos and pitchforks are the best plays in trading then you've come to the chart for you. Some simple insights for anyone interested. Algos - sell side algo is active and suggest a target of less than zero -$0.74 ish, buy side algo suggest one of those red lines above will get tagged. Pitchforks say that...
The activity of the options market confirms the liquidity that shown on the graph.
Which side will they choose?
Stay tuned and will find out.
We consider levels to be activity zones, but not to be a super-fine level for establishing a limit order. Use them in combination with our own strategy, not in alone.
Rally in Gold Miners ETF (GDX) from 6.29.2023 low is in progress as a 5 waves impulse, favoring further upside. Up from 6.29.2023 low, wave 1 ended at 30.8 as the chart below shows. Pullback in wave 2 ended at 28.91 with internal subdivision as a zigzag structure. Down from wave 1, wave ((a)) ended at 29.74, rally in wave ((b)) ended at 30.03, and wave ((c)) lower...
GDX is forming a heads and shoulder pattern that potential shows the stock rising as high as $40.00. There are a few resistances that GSX will need to break through. I believe the first one is around 32.33 (Very close now), then between ($33.00 and $33.40) and finally around $36.40. What are your thoughts?
GDX showing signs of green shoots. If it can break $30.60 we could see a relief rally back towards $35.
RSI divergence + some bullish candle closes.
A move below $27 negates the idea.
It has been more than 6 months since I looked at GDX proper. Yes, I might have missed the last Gold/GDX rally, but I think that short run is about over...
Looking at the weekly chart for GDX, a decisive lowest close since March 2023 is representative of a end of a bull trend, if it is not already obvious enough. The near marubozu type down candle came after a...
Buy some GDX here in the FED channel bottom area and we are constantly finding dollar strength selling pressure on gold
By closing the previous week on the chart, we find selling pressure, and by breaking the channel drawn on the charts, we find it at the next levels
26.55
25.16
reaching out to the bottom of current trend is not an option , trades are made daily here , little oversold doesn't counts here either .. in my opinion dips are must to be bough today , yes it's Friday
