US Bonds are currently dumping once more as GDXJ and Gold Bearishly Diverges at resistance after printing a 3-Line Strike. If this goes as I would expect, then we will see GDXJ come down to recover the entire range.
It's Friday, and the last trading day of September ... . Here's what's at the top of my IV screener in the exchange-traded fund space: TQQQ, IVR/IV 23.3/64.2% GDXJ, 22.7/36.4% (2.52% yield) FXI, 12.5/33.4% (2.26% yield) EWZ, 11.1/31.9% (10.9% yield) GDX, 26.0/31.5% (2.23% yield) You'll notice that everything is still pretty much in the lower one-quarter of the...
Given USD strength and the sustained pressure of ever-increasing US interest rates, gold has been taking it on the chin. However, we’re getting into buy levels/demand where it may be poised for a near-term recovery. Keep tabs on gold (spot, futures, GLD), but if you see signs of accumulation/trend reversal (use small timeframe charts), consider climbing aboard....
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....
Over a period of time what is better to trade and invest in a gold futures based ETF or instead the TQQQ , a leveraged and popular ETF tracking the NAS100 and NASDAQ. To analyse, this I put NUGT on the daily chart and superimposed the price action of TQQQ. Starting one year ago, NUGT had the better price action in an upward facing megaphone pattern...
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GDX Gold miner ETF looking promising right now Similar to other precious metal price action right now
Silver outperformed my outlook and its peer gold by any measure. And at this point, it should turn lower to shape an ending diagonal as there are no other alternatives left (at least I struggle to find one) other than recycling the bigger picture.
In the chart above, I highlighted the preferred scenario now in Gold and Silver - flat. Since wave is a clear double zigzag and because Silver invalidated a symmetrical triangle, I would discount the probability of such a triangle in Gold as well. That leaves me with ABC flat, or the whole thing is something else. However, even one scenario with ABC flat...
It seems that gold has has just made a local bottom! I maintain a couple of scenarios at this point.
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...
I see $3.85 to $5 dollars on the roadmap for this beaten #Miner Much like in #Crypto the miners lag the underlying commodity UNTIL a high range has been established then the speculative fervour starts to filter through into these low cap gems.
This is what we ask GDX regarding our primary scenario. The ETF has shown momentum in both directions: upward and downward. However, we expect the bulls to win this fight, pushing GDX above the resistance at $32.58 and into the turquoise zone between $33.93 and $35.57. There it should finish wave ii in turquoise and turn southward again, heading back below $32.58....
AMEX:GDX short term support at the 50 day moving average next major support will be around $30
Is Newmont mining telling us that gold is about to correct more or is this isolated to the miners? This leading gold miner could be signaling headwinds for miners. We have seen Gold outperform miners which tells us that this move in gold is likely from the banking crisis...fear.
So many indicators and time frames are bullish GDX right now with bull divergences and montly MacD cross. Classic cup n handle formation with a backtest of cup in progress. Im no EW guru but it looks like we are at the beginning of wave 3. Good RR here with a stop at $31. Let me know what you think of analysis. Cheers.
Gold Miners ETF (GDX) shows a bullish sequence from 9.26.2022 low favoring further upside. The 100% – 161.8% Fibonacci extension target from 9.26.2022 low comes at 38.3 – 45.7 area. Rally from there is unfolding as a nest where wave ((1)) ended at 33.34 and wave ((2)) pullback ended at 26.64. Wave ((3)) is in progress as another 5 waves in lesser degree. Up from...
The chart posted is now setup with a Negative Divergence see RSI I am buying puts in slv and gld this week