Gold to 1360 2/3 weeks time frame Simple up trend for gold. The chart says it all. Bottom of this wave is 1325 with a 2/3 week time frame before the move to 1360.
GDX
Gold Miners bottom Christmas 2020 via momentum modelI entered GDX & SLV data into my models today (eue-te.wb) and found that both daily models suggest that Christmas 2020 will be the next optimal buy point for the precious metals & miners.
brschultz aka markettimer777
GDX Long idea?After completing the AB=CD pattern, GDX looks ready to go long again. We just had a very common 38.2% FiBo pullback. The MACD is oversold, and the TSI is crossing over zero. This is a 4 hr chart. However the volume appears to be dropping.
VANECK VECTORS GOLD MINERS ETF (GDX): Pivot, Support, ResistenceFind Winning Trades In Seconds >> efcindicator.com (Special Discount)
VANECK VECTORS GOLD MINERS ETF (GDX): All The Pivots, Supports & Resistences
Gold and Miners Headed HigherGold has broken the downward resistance line indicating an upleg up in Gold and Miners.
Potential big break out 6month highcould be bigger breakout beyond 1310-1330 range $GLD $GDX $GDXJ $UGLD $SLV
Dollar is kingWatching the Dollar to see how it acts around the lower end of this trading range.
Dollar has been trading sideways since Nov.
Expectations of Fed rate hikes through 2019 has no doubt been a tailwind for the Dollar in the last couple months.
Depending on how quickly Powell changes his attitude and language in the coming (now every 6 weeks) FOMC press releases, Dollar will be affected.
Disclosure I am long $GOLD $GDX... a weak dollar would be appreciated.
Obviously we have not seen a strong dollar the likes of previous runs (see 1990s).
If we break through $98 and head north of $100 expect more pain in emerging markets... such is the cost of borrowing in other currencies.
Have a good weekend!
Short GDX, Gold. Hitting $1280 resistanceShort GDX, Gold. Hitting $1280 previous resistance, 50% Fibonacci level. $GDX has hit resistance and cannot close above $21. Sold my nugt from 2 weeks ago. Now bought 1/3 of $dust for swing. January, markets may rebound, so metals go down. Will wait and see, Happy new year!
Canary Just Died. Time to Take the Money and Run!..Prices have rallied back to the bottom of the (b) wave triangle/pennant and are getting ready to trade down to complete the Zig – Zag Correction started from the August 2016 highs.
The factors supporting this are a full Elliott Wave count (a, b, c). There is a Long, Angry Enveloping Dark Cloud Red Candle at the recent top. Price is also still trading below the 200 day moving average, thus the trend is still down. If you’ve traded this rally from the September bottom, now would be a good time to take profits.
The blue c wave down should consist of five waves with a target around $10 established by the prior (a) wave. Though I listed this as a Short Idea, I don’t recommend anybody actually short this. The Fundamentals are such on the Gold Miners that they are a screaming steal, and anybody in their right mind should be accumulating them to hold for a long term rally potentially of tremendous size…
Bullish XAUUSD with close over $1260, FIB Level at .382Bullish XAUUSD with close over $1260, FIB Level at .382. Looking for back test of 200 MA, $1252 or so. Trump news and gov't shutdown could push gold higher for next month. FOMC said 2 hikes in 2019, instead of original 3 and they will be data dependant. GDP data out Dec 21. I am in $GDX Jan $20 Calls and Jan $QQQ 152 puts. Bearish USD to .95 or lower in next 2 weeks. Happy holidays! DK
GDX crossroads$nugt $dust $jnug $jdst
Prepare for a jolt- I'm currently out of gold and miners. I don't like it here. pivotal with bearish looking divergence. It will be interesting if it breaks out.
