I am wildly bullish on the miners and precious metals over the longer term but I suspect another corrective leg down. GDX has been forming a giant ascending wedge from 2013-2020 and just broke out of that pattern this year. The drop in March was just a small piece of that puzzle that flushed a lot of new & experienced traders out of the trade. I pointed out...
Another stock that's in my portfolio is JD.com (NASDAQ: JD), the national e-commerce giant second only to Alibaba (NYSE: BABA) in gross merchandise volume. It did remarkably well in the first quarter, when China saw its first economic contraction since the government began reporting statistics. It did even better in the second quarter as the wheels of the economy...
$gld $gdx $nugt $dust $jdst $jnug $gdxj $slv $sil I'm bullish on gold no matter what technical patterns are at play. This is an interesting pattern I've not spotted until the last few months. Looks like a legitimate ascending triangle and measured breakout. Will it break above and never look back or will it correct and land on top to test the triangle? ...
We have 3 major trends that will collide next week. Should get to 1800 next week, then bounce off the primary wave for a healthy correction. But you never know with gold these days. Its quite bullish. If it breaks out of the primary wave, it will go exponential.
The Spring season ends within a few weeks. Golden bulls and bears are about to go head to head for season champion. Bulls will surely win next season, but this season is still close. Bears have a chance for a final round comeback. Bulls will try to go for the kill this week with a break out of H(1) wedge, while bears try to extend the match to the larger H(4)...
Short $GDX 34.53 SL 37.49 (-8.6%) TG 12.40 (+64%) Regular Flat ABC Pattern w/ Divergence
Shorting GDXJ from $37.17 with a target of $27.86 to $30.00. --------------- I believe that with markets potential to fall we will likely see another round of weakness, even if briefly, for the miners and gold in general. The potential for more profit taking or selling for margin have been greatly increased with the rapid rise in GDXJ over the past week and with...
Price has broken our trend line and touched a strong area of support around 1680s. We will be looking for sell entries only if price breaks and hold below 1680s. If price holds the current area, we can expect price pushing back to 1730s
Potential bear trap in the way the Fibonacci line has a very tight price range between Fibonacci lines. Leaving support resistance zones kinda indistinguishable Risky buy
$gdx $gdxj $nugt $jnug $jdst $dust $slv $gld I'm bullish on hard assets- watching for possible leg down. A higher high will invalidate this.
Cycles analysis indicates one more major deflationary move to occur. A selloff approaching for XAUUSD down to support levels near 1380, as well as a retest lower for gold miners. To be followed by a longer term major buy setup for gold. Let's remain objective and not get too excited just yet!!
Waiting for the fifth wave down to be complete. Gold miners are uncertain - acting more like stocks. Short here. Everything in life is a gamble. -Kendrick Lamar
If it brakes the MA 180 days then we can think about rebuying the pull back.
I believe the miners are undervalued and stand to do well moving forward. Gold and silver have shown their stability through history and remain solid in my opinion. I see a lot of potential in the miners. (renko blocks are not playable so I'l have to post updates below)