1 hour chart of Gold Miners ETF (GDX) below shows that the pullback to 27.54 ended wave (2). The ETF has since extended higher in wave (3). Internal subdivision of wave (3) is in a 5 waves impulsive Elliott Wave structure. Up from wave (2), wave ((i)) ended at 29.32 and pullback in wave ((ii)) ended at 28.12. Then the ETF rallied higher in a nest. Up from wave...
Gold Miners have suffered, and this one has now capitulated in my opinion. Yielding 5.6%+ and near a hefty demand level between 38-35, I'd expect a new uptrend in this one sooner rather than later. (See pink circles in the longterm squeeze indicator chart, extremely eversold - second most since 1985)
From my analysis this are my targets for the comming month. Mid December more or less, is my stimated time to get them GDXJ: fill the gar at that levels. GDX: Same, could reach 35$-36$ (now at 25$) And gold....back to somewhere close to 1.920$ Good times coming, and dangerous, as ususual. Good Times Tomorrow, Hard Times (The Long Ryders) www.youtube.com
I think a major down turn for GOLD is coming in the next couple of months. This will be the final wave down before the next BIG wave up towards $3,000 imo.
We are now backtesting the weekly trendline and reached the weekly upper BB. In my opinion it's time to take profits and (possibly) collect shorts. They could go a bit higher to spike through the trendline first. Getting above 1900 on a weekly close would be very bullish for gold and we could see all time highs in 2023. My guess is a pullback here at least for...
If you have been anticipating a resumption in the October rally, this may be the trigger. The SMH/SOX is the (I believe) the last of the major indicies to still have a gap left unfilled. If it closes today (or this week), then maybe we can get going to the upside. Some resource stocks have already started their ascent (GDX, SILJ, UUUU, UEC, NXE, etc.)
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...
plan to lose 100% of your money, since its JNUG calls but if it wins, it should pay a couple multiples.
This is a list of my personal portfolio selected ETFs with the simplest visuals, using MACD as the only technical indicator and the trend lines with breaks or breakdowns to give us a new series of PSV charts. ;-) Note that these are using Weekly charts, and a break out is qualified when there is a trendline break out accompanied by a MACD crossover (within a week...
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.
In my honest opinion Gold will head much much higher in the next decade, and the double top at 2070 is bound to break. In the short term it also looks fairly bullish as it has reclaimed several key support levels, along with the 200-400 DMAs and the diagonal trendline. Getting up to 1900-1920 over the next few days or weeks definitely seems possible. However in...
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....
What does the 3 month timeframe INVERTED chart tell us about miners?
The dollar had another spike above 113.5 and got strongly rejected, this shows weakness and is likely to attempt another leg don’t to 110 support leading a rally next week for #stocks, #commodities and #crypto if the correction happens. DXY needs ground to rally again, I can’t see breaking resistance until it set another higher low and it still has room to make...
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,...
$GDX broke a descending bear channel downtrend. Overhead objective 29.00.