Setup is the same in both JNUG and GDXJ --- Inflation fears and BTC being a crazy eyed old man -- Run to the GOLD play, as leveraged as you can get (unless you like GC, mwhahaha). Enter Anywhere in that green box with stop just below. 10R worth the 50/50 shot
The Gold:SPX ratio has but in a double bottom on the monthly chart, indicating a likely short-term top in the US equities market and/or a re-test of the August 2020 highs for gold. If there is a broader market sell-off and deleveraging that brings all assets down a bit, that would be an excellent and extremely low-risk time to load up on quality gold and silver...
Let’s get long on gold. $GDXU is a triple mover on the movement of beloved ETF GDX, Vanguards well known gold miners fund.
SUMMARY Technical Analysis: I am long the stock because I see price action has completed a corrective ABC pattern on the daily Chart. From here price action could develop a bullish counter trend. Fundamentals: The company has commenced drilling at their High-grade Willoughby property. The Company is cashed up and IF! they hit bigly then share price pushes...
Double bottom price action on the GDXJ Price of the double bottom also hitting S/R zone of the previous 4 year base break-out. Does this indicate a reversal in the last 12 month pull-back and the start of a new break-out?
The metals have been stuck in a range for quite a while. Gold Miners ETF (GDX) appears to have made 5 waves up since the crash in 2020 and formed an ongoing complex correction. What do you think? Has GDX bottomed? Take note of the lower stoch/rsi wavetrend indicator and the broadening nature that has occurred since this correction. This looks like a hidden...
GLD/GDX Ratio predicts bottoming pattern in the Gold mining stocks. Should be followed by an upmove soon.
Miners may finally be at or near a medium term bottom. They were up nicely today while gold was down. Also the technical are good. They are at the primary trendline, and there is a bullish RSI divergence. There is major support around 31, but not sure it will get down there.
I'm looking for this support to hold and provide GDXJ with a 15% bump back up to the $51 region. There's a clear invalidation level just under $43 to provide a tight stop-loss and 5.6 R/R ratio. This trade could take anywhere from 2-6 weeks to play out. Be patient and let it come to you. The idea with this trade is simple. Buy at support and Sell at resistance.
The fun side of the arc in the junior miners is currently playing out. At the moment, we reside at the edge of the arc, which presents a very low risk high reward entry. Completion of the arc would indicate a gain of around 250% + overshoot, in an 18 months timeframe.
Gold saw a sharp sell-off last week due to comments made by Powell of interest hikes that may come sooner than expected. Since early June, gold is now down almost 8% in just this month. Nevertheless, price is holding some key technical levels. I still remain bullish on gold given the current environment of high inflation. The key levels to look out for are 1750 and 1675.
A few weeks ago we had a look into Gold cycles, Intermarket forecasts, and COT. At that moment gold was flagging. As you know it usually follows this pattern very well. But it doesn’t mean always. The current breakout wasn’t qualified as we didn’t have a downclose candle prior to the breakout candle. Moreover, in 2012 we had a similar situation and it was a false...
This is my first time doing this, it really looks like the text book accumulation is happening here.
Here's where the premium was at as of Friday's close: Broad Market Exchange-Traded Funds With 30-Day Implied >20%: IWM (1/23) Comments: I have quite a bit of IWM on here, but my order of preference is broad market, then sector, then single name, so am comfortable with adding if we get both weakness and a pop in volatility. IWM/RUT has been fairly rangebound,...
The SIL has formed a perfect bullish consolidation below the breakout line, and is likely to move up another ~80% from here.
Usually, Gold miners and ETFs perform better than gold itself. Whenever paper golds (Stocks and ETFs) underperform spot price it means something negative is about to happen in the stock market! Today, most precious metal miners are negative! Take this phenomenon seriously! Today, Gold experiencing its 9th green day in a row. Which is a very rare phenomenon! you...
Gold with the cup and handle breakout on the weekly chart. This is the time on gold. If you check my account history, you can see a similar chart posted for GDXJ (the junior gold miners basket) which is breaking out as well. Don't sleep on this. Smart money moving back into gold with inflation tailwinds.