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VanEck:Gold Miners (ARCX:GDX)VanEck:Gold Miners (ARCX:GDX)VanEck:Gold Miners (ARCX:GDX)

VanEck:Gold Miners (ARCX:GDX)

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I like gold and silver miners long termWith qe infinity, stimulus infinity, money printing, mass debt expansion nothing could be more bullish for Gold and Silver. Which companies benefit for this the miners. Oil is way down which lowers the cost to produce, at the same time we have Gold at making higher with a strong uptrend so these businesses are growing revenue at the same time shrinking business which = bigger net income (bottom line). Demand for Gold and Silver is skyrocketing based on these events which could not be more bullish for miners. The government is never going to be able to stop printing which Gold and Silver will be bullish to infinity. During March the deflationary environment is temporary bearish for miners dropped 50% in a month followed by over 100% gain next month. These miners will get hit pretty hard again but it will be a great buying opportunity for long term. I bought last dip and I’m up over 30% if it goes down again buy more. Overbought on short term charts so I’m bearish in the short term but over next 2-3 years I think the gdx will be over $100
AMEX:GDXLong
by rjchilia123
Elliott Wave View: GDX Extends Higher to 7 Year HighElliott Wave view in Gold Miners ETF (GDX) suggests the rally from March 16, 2020 low is unfolding as a 5 waves impulsive structure. Up from March 16 low, wave (1) ended at 27.21 and pullback in wave (2) ended at 23. The ETF then extends higher in wave (3) towards 32.27 and wave (4) pullback ended at 29.37. The 45 minutes chart below shows the internal of wave (3) which unfolded as another impulse of lesser degree. Wave (4) correction ended as a triangle. Wave A ended at 29.37, wave B at 31.12, wave C at 29.45, wave D at 31.13, and wave E of (4) ended at 29.45. The instrument then extends higher again in wave (5) with potential to end at 32.61 – 33.87 (blue box). This move will also complete wave ((1)) and thus ends cycle from March 16, 2020 low. Afterwards, the instrument can see larger pullback within wave ((2)) to correct cycle from March 16, 2020 low in 3, 7, or 11 swing before turning higher again. We don’t like selling the instrument and GDX can always extend higher as the structure is in 5 waves. Furthermore, the sequence from January 2016 low appears incomplete with 100% – 123.6% Fibonacci target towards 36 – 40.6.
AMEX:GDX
by Elliottwave-Forecast
Gold Miner ETF at Long-Term Resistance as Optimism SpreadsGold and gold miners have been some of the go-to names in these days of coronavirus and cratering GDP growth. The Market Vectors Gold Miner ETF has rallied sharply in the last month as investors look for firehoses of liquidity to boost precious metals. But that’s placed it at risk of conditions improving. What if the crisis starts to lift? What happens to gold if investors rotate back to cyclical parts of the market like banks and industrials? The price chart may be reflecting those possibilities because GDX has been unable to close above $31. (This has been a key resistance area since running back to April 2013.) This week had another failure at that level – despite physical gold inching to a new high. The resistance around $31 is now a potential risk-management level. GDX also has liquid options, creating the potential for income traders to sell credit spreads. Overall, a lot of bullish news is priced into GDX at this level. But that also creates downside risk in price if conditions improve on Main Street.
AMEX:GDX
by TradeStation
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