It has been a while since it would be even worth to look into GDX, and I think it is about time... still early, but good to plan ahead and see if it is working out as projected.
GDX (Gold miners) mounted a good recovery but stalled on a trend line and retracement is likely to see 27, else 25.
The technical indicators (MACD and VolDiv) are turning bullish, but...
I'm looking for $GDX to pullback to that $24.50-$26.50 level for a long position. I think this could see $33 again according to the monthly time frame. Daily is shown here. Monthly Trix is green and momentum has shifted. Also, the $DXY has fell to a very heavy support level and should get a bounce which will bring gold down.
Markets are pricing in a recession by 2023 year end. Many believe the fed has overtightened and financial conditions will kill growth. Less spending, lowering earnings and less jobs. In today's market environment an environment a recession is actually bullish for equity markets. A recession would bring down aggregate demand and inflation. This would allow the fed...
GDX chart on the 1D and 3D time frame.
-Miners look good here, imo. 1D 13/48 MA cross, but not yet on the 3D. Five waves down watching for big impulse here.
-Price has touched back on $27 possible head and shoulders trendline.
-On 3D price has breached downsloping trendline
None of this should be interpreted as financial advice, I am not a professional or...
While Gold fell yesterday due to interest hike fears and China's economy.
I believe the Gold still has more upside.
Currently, looking at gold miners ETF. Believe that it might fall to support level ($26 area) and bounce back higher.
Aiming for around the $ 30 area..
However, should it break $26, I will exit my trade.
Short term Elliott Wave View in Gold Miners ETF (GDX) suggests it has started a new bullish cycle from 10.13.2022 low. The rally from there is unfolding as a 5 waves impulse Elliott Wave structure. Up from there, wave 1 ended at 25.4 and dips in wave 2 ended at 22.58. The ETF extends higher again in wave 3 towards 28.49 as the 45 minutes chart below shows....
My dowsing keeps giving me that there's a long entry in GDX, and that this is a multi-day swing low. I think it's today. There's a nice reversal candle on the day. I forgot that I calculated a target yesterday, so did it again today, but I'm happy to see they are relatively close to each other, $29.83-30.40
And I asked for a date twice as well and got the 25th,...
were in a countertrend daily rally for gold as well as equities, and where theres normally a hedge we see direct correlation to both breaking out. the price doest tend to spend much time outside of the envelope. id imagine one final thrust into sss supply zone before revisiting estimate and lower envelope band simar to ghost feed is in order.
It looks like an incoming relief rally for GDX,
MACD divergence, if this week close above the 11-week EMA in orange we can see the rally at least to around 27.50 or even 28.50(10% to 14% upside)
good opportunity in this chart.
I look to see the price close above the 11 Week EMA, Bottom indicator crossing above the zero line MACD already with a buy signal. The...
The gold miners ETF, GDX, just points to a very very rough time.
With the interest rates escalating rapidly, the USD rising swiftly, the equity markets weakening, and gold prices crumbling... it is a perfect storm for GDX thrashing.
The weekly chart had a tombstone doji the previous week as it failed the Hull EHMA, and the past week confirmed the trend reversal...
GDX seems to have woken up and is showing its high spirits by climbing upwards. We now consider wave ii in magenta to be finished, and thus expect the ETF to continue its way above the resistance at $28.83. Once there, GDX should gain even more upwards momentum to rise above the next mark at $40.13 as well. We should still keep in mind our alternative scenario,...
a break of descending bear
channel downtrend
suggests move higher to
overhead resistance at 29.00
Stochastics divergence on
recent low suggests $gold
minders ETF should
move higher
AMEX:GDX
Based on the 4H chart as well as the price action of spot gold
using an EMA ribbon cross-over as well as the volume profile,
I have set up a long trade with two upside targets of about
10 and 20 % upside respectively with a stop loss of about
4% which would be adjusted as soon as the price rises above
$ 27 to move the stop loss to the entry price...
We've all been watching Gold/Silver - waiting for the next big move. I think we've hit the bottom RIGHT NOW.
FEAR is going to build over the end of the year as global market concerns continue to elevate. Gold & Silver should continue to rally higher off this Quintuple-Bottom level - or break downward if the Fed is able to navigate a soft landing.
Either way,...
Short Term Elliott Wave View in GDX suggests rally to 26.40 ended wave (2). Wave (3) lower is in progress to complete a cycle from August 25th, 2022 high. Internal subdivision of wave (2) unfolded as a double three Elliott Wave structure. Up from wave (1), wave ((a)) ended at 25.23 and pullback in wave ((b)) ended at 25.44. ETF extended higher in wave ((c)) of W...
