notice the 2 previous bearish cypher patterns. The 1st pattern of the (X) leg appears to be acting as support. I'm looking for gold to get above the 2nd bearish cypher pattern, and Test its X leg for support. If it hold then Im looking for gold to breakout again above $1800 and retest $1840-$1850 area The AD earlier this morning showed me an ascending triangle to...
I believe so. That's why the recent dip in gold price and miners is to shake out the weak hands. I think gold is heading for 100% run.
GDXJ is still acting squarely in accordance with our expectations and has advanced into the magenta zone between $37.26 and $24.77, where it should soon finish wave ii in magenta. Afterwards, GDXJ should turn upwards, crossing $36.58 and heading for the resistance at $51.92. There remains a 30% chance, though, that the ETF could fall through the magenta zone and...
GDX seems to be doing a BIG UPCHANNEL started from the 2016 low & retested at the 2018 low. If this lower channel is to be retested, GDX may bottom at the 24 green zone. This is the most probable since this is also the 2016 VWAP & the FIB 0.618 retracement from 2016 low. However, if you look at the VOLUME PROFILE, then GDX may fall more to the 21 zone to create a...
This is a very asymmetric trade setup with nearly blue skies to 100 if it can catch some momentum in the coming sessions. We also have a nice little fractal that shows us the path upward, should we break 49. I would not front-run this one and would wait for 50+ daily close before a serious entry. With this level of confirmation in pocket, I'll be taking a rather...
Soon will begin the final leg down in the sector, that could take GDXJ to 23 $ level. After that we have to see. At some point this year, could see a multiyear bottom in miners. That will mean that I thnik they will begin to outperform gold. So, in cycles up, they will rise huge. And in cycles down, the will fall, but not making lower lows. But that is still to be...
I didn´t expect such weakness in the previous idea. The move is being very intense, and it can continue in the same way Before de month ends, GDXJ about 40,5$. Then, there could be a move up to the 45$ before another push down to the 32$. And all this could happen during the month of May. Caution
After jumping down from its last high at the lower edge of the blue zone between $51.27 and $62.63, GDXJ has fallen below the mark at $36.58 to test the waters of the magenta zone between $37.26 and $24.77. We expect it to gather more downward pressure to advance deeper into the magenta zone, where it should finish wave ii in magenta. Then, the ETF should turn...
GDXJ looks to be rejecting at resistance here which could setup a large move lower. I know everyone wants to be bullish gold, but both commodities and equities are starting to look weak here. I think we're about to see a false breakout of the falling wedge and a break back below it down to $35 as the first target, and potentially the $20 range after that. Green...
VanEck Junior Gold Miners ETF (GDXJ®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the MVIS®Global Junior Gold Miners Index (MVGDXJTR), which is intended to track the overall performance of small-capitalization companies that are involved primarily in the mining for gold and/or silver.
New cycle down in the sector: gold and miners. This are my targets for the next two weeks. The first two hight probability The last one (40) could be reached,If not from this drop, from the next one. GOLD ALSO DOWN 1920 1860 1820 targets
GDXJ just broke out and is looking to make a run up over the coming years. Sell once it enters the box at the top of the ark.
If you make a ratio of Gold Juniors to Gold Majors, you will find that there is an arc in the making since 2010. It looks like we are about to enter the fun side of the arc, where juniors outperform majors. This is historically often a sign of liquidity and luster returning to gold, in the form of rising gold prices, and risk securities outperforming. Got Juniors?
looking on the 1hr and doing an elliott wave count, I see one more possible retest to 2040 from the bull flag c wave up both bull and bear. I would look to reshort from this point
Here we have an extremely similar setup to late 2015, right before the junior miners went on an epic tear. Note the divergence in the dynamic RSI oscillator, and how similar the action now is to 2015. The ratio also just broke out against the S&P. Are you loaded up for this run??
This is a MASSIVE Monthly BULL FLAG (Blue). After breaking down this massive trend channel GDX has recovered and is now breaking back into the huge UPTREND Price channel while MACD is remaining above ZERO. I realize the month is not over yet but when you are struggling to find places to put your money when the stock market is retracing this would be my next...
Here you can see the ratio of XAU (an index of 30 precious metal mining companies) to the S&P 500 compared to the yield on the US 10 year treasury (orange line). As you can see, we have been in a falling rate environment ever since Volcker jacked up rates in the early 80s and put a floor under the value of the Dollar. XAU/SPX has followed the treasury yields down...
In this update we review the price action and options flow dynamics and identify the next high probability trading opportunity and the price objectives to target.