Bear Polo Pattern Up coming supports
Simple Clean Bear Polo Also Gap Down on Wolf Candle/Inverted Hammer Copy paste trend line follow??
$GDXJ has shown signs of accumulation since Q3 2014. See Excess Demand/Supply signals. It appears $GDXJ is getting ready to outperform $GDX Gold Miners etf (see chart shown below). $GC Gold futures also have shown accumulation. I am planning to leg in to the Juniors. To reduce risk I prefer to invest long in the Gold Miner etf's.
GDXJ bounced at it's 50 fib and 50 sma after recent run to 30.74
Ichimoku cloud analysis of possible action for GDXJ. It looks like the miners are itching to break through that resistance.
This time last year GDXJ bottomed and moved 50% in 2 months.
Looks like GDXJ might finally be getting some traction here. Love playing double bottoms on trending RSI.
Gold is oversold on the 4hr RSI chart. Gold Bears are out and about in full force still and are playing for some sort of imminent breakdown in the metal. There is still alot of interesting things happening in the gold market. Prominent Gold bulls are proclaiming a shortage in the physical metal and massive demand by eastern forces. Big things are afoot in the...
Would like to see this close above 26.
It's a normal linear scale chart which gives another impression of gold than the logarithmic charts I published yesterday. (See links below). The whole chart cant stay within the picture but push the "-" bottom to see the trend lines. Fits well in a channel. Seems like gold is hanging in there.... on a sting! I have looked at the EW count as an 5 wave down and...
Much hated and maligned Gold has been doing work and the potential Reversal I had pointed out earlier is so far going swimmingly. We are now testing the 550 period 4 hour MA. Expect a battle to ensue here as Gold slowly works off the toxic resistance and negative sentiment and sprints higher. Watch as a powerful new trend begins.
The potential reversal in gold is looking good as major Moving Averages begin to cross and turn up. The Swiss Gold referendum didn't pass as expected and many eager shorts thought that was their opportunity to short gold into oblivion. This is still a very hated and heavily shorted sector that is ripe for a major paradigm shift and short squeeze.