Gold has been a very volatile commodity last month but looks like a recovery is in the midst, $NUGT looks good for another leg up here. Long above 12 with a stop loss at 10.48. APT, a coronavirus play, has been consolidating right above the rising 5DMA. I think APT is right about to lift here. Good above 14.75 with a stop loss at 12.85. WMS, a utility...
Time for metals to shine? Extreme volume in a very peculiar bar.... seems to me like big ol´accumulation by smart guys. Low Risk High RR Trade guys.
Gold prices will catch up USD index. For that, gold prices will drop to $1400 or below.
$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.
Weird price action for GLD last thursday, as gold futures were up 2% and GLD was only up 2.6%. While senior gold miners index were up 10%, such as NUGT or NEM exploded for 13%. Possible bearish triple top or bullish Inverse Head and shoulders? April 7 COT report was mixed as well, Non-Commmercials were Long, while Commercials were short. FOMC is not for 3 weeks,...
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!!
If it breaks it would create an opportunity for a short.
Similar pattern like y 1999-2003 , Dow to Gold ratio is now above 20
It is looking good for short.
Whats up Traders Im setting up a gold trade, using NUGT . . Buy Stops Using the Bulkhead Method to catch the wave (more buys as price goes higher) 25% position purchases across 4 buy stops above the bull flag....is my method here Set a tight Trailing Stop for the entered positions, up to 5-6% Target Box Shown as Pink Rectangle. I like Gold Sentiment, I like...
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)
Gold miners are clearly worthless now that gold is down 10% from the high. Does anyone know who planned this event?
miners have re-entered my "I'm interested" zone. I think 2020-2021 has very good things ahead for the miners and the things they mine exciting $nugt $dust $gdx $gdxj $jnug $jdst sorry for the ugly chart
3/1/20. GDX 4 hour charts I issued a warning on 2/23/20 of Risk v Reward. At the Friday low, GDX was down a bit more than 20% and NUGT was down a bit more than 50%. I FEEL for all those people who jumped in at the last leg and getting burned but that's how it usually out. Identifying Risk vs Reward and Resistance zone vs Support zone is important.
Overhead resistance for GDX is to be found at $35.50 and $39 Assuming that GDX reaches these levels over the next 2 to 4 weeks $NUGT could reach $53.50 and $64.80 respectively. GDX will open above $31 to $31.79 resistance which puts $NUGT at $42.0 to $42.70 Daily RSI will indicate a hold long.