following the break out in gold i focused on VANECK GOLD MINERS etf.
we all know how to play this set up... long already, will add on flag break out confirmation.
The AMEX:GDX chart is currently exhibiting a bullish pattern, characterized by an inverse head and shoulders formation, a key technical analysis indicator. This pattern typically suggests a potential reversal of the prior downward trend, indicating a likely upward movement in price. An inverse head and shoulders pattern is a notable formation in technical...
Short Term Elliott Wave in Gold Miners Junior (GDX) suggests rally from 11.10.2023 low is in progress as a 5 waves impulse. Up from 11.10.2023 low, wave ((i)) ended at 29.07 as the 1 hour chart below shows. Dips in wave (ii) unfolded as a zigzag Elliott Wave structure. Down from wave ((i)), wave (a) ended at 28.38 and wave (b) rally ended at 28.75. Wave (c) lower...
Gold is up an even 10% year to date. The precious metal has frustrated bulls at times in 2023 but falling real interest rates over the past several weeks have undoubtedly been a boon. While it’s encouraging to see spot gold climb above the $2000 per ounce mark, I see potential upside in the VanEck Gold Miners ETF (GDX).
Notice in the chart that the portfolio of...
- Head and shoulders bottom
- Break of a significant down trend line
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The AMEX:GDX , a notable gold miners ETF, is currently displaying a Bull Flag formation, indicating a potential breakout on the horizon. My perspective remains that we are on the cusp of a significant breakout, one that could not only impact the gold market substantially but also trigger an even larger movement in mining stocks. Admittedly, I've held this view...
Gold has been on a tear recently.
If gold breaks above and finishes above 2k next week, we should see GDX break the neckline at 30.
Target should be around 34 but there is heavy resistance at around 32.20 so that should be a nice area to take some chips off the table
Short term Elliott Wave view in Gold Miners ETF (GDX) suggests the ETF is correcting cycle from 10.4.2023 low. Rally from 10.4.2023 low ended wave (1) at 30.16. Pullback in wave (2) is unfolding as a zigzag Elliott Wave structure. Down from wave (1), wave A ended at 27.61 as a diagonal. Rally in wave B ended at 29.81 as another zigzag in lesser degree. Up from...
The rally in GDX (daily chart) sees the price eyeballing the 200 day moving average and a decision point about whether to break the corrective downtrend from May's double top.
There are downside gaps from November, 2022 and October, 2023. But these do not need to fill any time soon. Watch the SMA 200.
AMEX:GDX The Vaneck Gold Miners ETF has notably developed as Long as it breaks out of a previously established downward channel on the weekly chart. This upward movement finds support at the year's initial lows of $26, which also corresponds with the pre-COVID lows. This resurgence is further validated by the presence of a bullish MACD crossover, adding a bullish...
AMEX:GDX Trend Line Break, echnical breakout in the chart of AMEX:GDX , which is an ETF that tracks the performance of companies involved in the gold mining industry.
A "Down Trend Line Break" to the upside is typically seen as a bullish signal in technical analysis. It indicates that the security in question, in this case AMEX:GDX , has broken through a...
As long as the price holds recent Oct lows, I will continue to expect it to move towards next important resistance area: 31-35-38.
Afterwards it would be ideal for price to consolidate and form a handle part of the cup with later break out above 35 pivot to confirm its intentions to move to next important resistance areas: 43-48-52
Short-term trading...
A inverse #HVF appears to be in progress on the #GDX
@TheCryptoSniper
Coincides with a probability that gold has put in a major secular top being pushed down by positive real rate environment.
Gold Miners ETF (GDX) shows incomplete bearish sequence from 5.4.2023 high looking for further downside. In shorter cycle, the decline from 7.18.2023 high is in progress as a 5 waves impulse. Down from 7.18.2023 high, wave 1 ended at 27.27 and rally in wave 2 ended at 30.13. The ETF then extended lower in wave 3 towards 25.68. Internal subdivision of wave 3...
