Chart shows ratio between GDXJ/GDX. When chart goes up, Jr. Miners>Sr. Miners. Recent rally in metals also indicates bullish RSI divergence favoring Jr. Miners. Ratio (and chart of GDX or GDXJ by themselves) show it up against resistance since JUL 2013....lets see if ratio (and miners themselves) can break above them, as bullish divergence indicates it's a...
The Junior Gold Minors GDXJ finished a wave 3 down on the daily chart. It has now completed an abc correction into wave 4. The MTPredictor indicators generated a TS2 automatic sell signal at 27.14 with a stop at 29.77. The initial target is 21.99 which is the minimum wave 5 target. If price does not hit 27.14 (the entry) and instead moves above 29.77 first,...
Relative safe long position seems in the process with tight stop in case you are wrong. Let us meet $31 next few sessions if price manages to close above recent swing high at 26.74 we are not that far from it. If you want a real time alerts try us www.2waytrading.com
Gold miners stocks seem to be extremely undervalued. Some technicals indicate the bear market is going to an end, as gold stocks approach the lower edge of the 3-year PnF channel and they are about to bounce.
GDXJ is coming off an important low on the weekly chart. MTPredictor found this abc correction and generated a long TS3 Trade setup. The initial resistance/target can be the DP off of the b swing at 44 with the final target at 46.59. Obviously, today's FED meeting can be a game changer so be aware. I decided to sell puts here instead of take the trade...
GDXJ has been basically flat since I got in @ $40.25
I still believe the golds are all making a large head and shoulders pattern. My only real fear is that maybe it is too obvious. Meaning that maybe it is becoming a crowed trade. In my experience it seems like the prettiest chart patterns tend to fail.
Another interesting thing I came upon is that it seems...
The sector has been so beat up and cost have been cut across the board. It looks like the metals are picking up some bids and $GC_F is not willing to settle below $1300 anymore and producers not being economical under $1200. A lot of the names in the $GDX and $GDXJ also has $SI_F $SLV and $HG_F credits as well as other base metals that have been doing very well -...
