JDST looks to be bullish, making higher lows in the recent weeks. Couple reasons why I think it's on the uptrend: - Phase one of the China trade deal concluded bringing some stability to the world economy; generally this should reduce the demand for gold, lowering prices and increasing JDST, a gold miner BEAR. - Gold prices have a very strong resistance around...
Pending a breakout of the presented wedge you may be able to correctly time when to bet against gold once more.. I wouldn't be too confident that this pennant wouldn't collapse out the bottom which is why i recommend waiting for the fall wedge to break out a bit, but anywhere by the value box I've drawn could earn you some easy trades. Goodluck
End of the current JDST trade. Got right up into that 34 day ema and closed right below. Great 30% swing here. No solid break or close above so sell to take profits best idea. Love the gold plays on the 3x lev's.
Two day swing held. Still looking a GLD and /GC, i think we can push to the 34 day EMA. Alkost a 30% move if so. Golds slightly easier to play than most. Everyone should have a gold.play in their bag.
... and the junior miners will not be an exception too... If the sector is going down the juniors will drop too. We have the same indicator divergences: GDXJ was underperforming in this intermediate cycle. While GDX almost tagged the 2016 highs GDXJ was not even close to it.
Broad wedge keeps going lower as Gold Bulls feast on their road to 1485 (my original target). At this point, I believe layer into a position to hold for months on end is smart.
Looking at this Inverse ETF in Gold I see potential weakness which is enough for me to want to hop in a short and hold it until it's in profit. Layering is key for these set ups and also knowing that the div isn't valid yet but I'm betting RSI will retract.
This div pattern will almost always produce profit.. Looking for short of gold on wedge pop
Gold is oversold on the RSI. Had a doji reversal last Friday. And HUI miners keep signaling lower gold. Anticipating a move back to 1300. JDST is near previous all time lows @ 29 from February If the Fed doesn’t deliver a rate cut Wednesday, expect gold to sell off