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Miners

LONG GLDN:TSXV - Golden Ridge Resources: Grinding Upward.GLDN:TSXV - Golden Ridge Resources: After some heavy buying this morning pushing us up to $0.195. The range $0.19 - $0.195 had a bit of history as resistance back in October from the larger down move. That said the chart is still very bullish and with Gold ripping to 5 year highs there are nice tailwinds for continuation. The 50dma is about to cross the 200dma tomorrow, giving us a golden cross of the averages. #GOLD #goldentriangle $GLDN.V Near term Catalysts: Drilling commenced on June 14, nearly a month earlier than last year, this drilling season is working on last years very promising finds that propelled the stock up 200% into the 50c range. This drilling season should see similar results and will be reflected in the stock price, the land they own was previously Barrick Gold's which sat un-explored for 20 years. Speculatively, In the future this could be bought back. TSXV:GLDN
TSXV:GLDNLong
by justin_paul
ABN:TSXV - Aben Resources: breaking out with volume confirmationABN:TSXV - Aben Resources: Bulls stepped up, with Gold breaking out to 5 year highs, gold miner bulls, had nice tailwinds to push over resistance. Break out with volume confirmation, after pulling briefly into $0.225 support last week with declining bear volume. The chart is set up beautifully for some continuation upwards. Level 2 has limited orders up till $0.30. Watch levels on the chart at $0.265 and $0.28 before reaching $0.30 #GOLD #goldentriangle $ABN.V Near term Catalysts: Drilling commenced on June 10, nearly a month earlier than last year, this drilling season is working on last years very promising finds that propelled the stock up 100%+ up near 50c. This drilling season should see similar results and will be reflected in the stock price the golden triangle is proving to be very position for gold exploration and with the price of gold testing multi-year highs these could be very profitable and gain lots of attention. TSXV:ABN
ALong
by justin_paul
Gold's direction stay LONG I'm thinking that pullback (blue arrow) was either a 1/2 cycle low or the end of the 1st DC. If its the 1/2 cycle low we should move higher towards $1390 as the top. If its the later we are on day 2 of the 2nd DC. The first DC was 34 days long which is right in line with the previous cycles. If I am right we should blow past the previous high at $1348 easily. If we get resistance and start going side ways then it may be the end of the 1st DC and we get that notorious heavy sell off. IMHO
FX:XAUUSDLong
by bhowe
2
Don't Trust Today's Upturn in GoldIn my last post I mentioned that JNUG performs better when it closes above the Hull Moving Average . Today it moved decisively above the Hull, which I'd usually take as a bullish indicator. However, on this occasion, I don't trust it. The price of gold tends to move opposite the market. The market is down today for reasons of seasonality . Today (June 12) is what the Stock Trader's Almanac designates a "bear day"-- a day of the year on which the market has historically declined more than 60% of the time. However, it's an isolated bear day. Seasonality favors an upturn in the market tomorrow (June 13) and Friday (June 14). Friday is a "bull" day-- a day when the market has historically risen more than 60% of the time. There are several more bull days next week. I expect weakness in the price of gold as the market rebounds. Gold also tends to move opposite the dollar. The dollar is showing weakness today, breaking downward through some critical support levels. But in my experience, market movements on isolated bear and bull days can't be trusted for purposes of charting. I usually ignore moves through support or resistance on these days. The dollar may rise back above its supports tomorrow. If you're feeling lucky, you could even try shorting gold by buying the Junior Gold Miners' Bear fund (JDST). I'd only try a one-day short play, however, because even if the dollar does move upward tomorrow (an uncertain prospect), it may soon return to weakness ahead of the Fed meeting. As always, this is just an idea and does not constitute investment advice.
AMEX:JNUG
by ChristopherCarrollSmith
Gold Miners - Push Up Incoming Welcome back guys, sorry for disappearing for a while, I’ll be post more frequently after June! But in the mean time… here’s what I’m looking at right now. First, let’s acknowledge that trading gold miners have been pretty boring lately given the tight range it’s been stuck in. That’s why I was primarily day trading for the past month to avoid taking overnight risk, aka the battle between negative macro news and Trump trying to bring the sentiment back up by tweeting. Now if you look at the GDX chart, you’ll see that the past 31 days have been forming a symmetrical triangle pattern, meaning a lack of trend either up or down. However, this type of pattern usually represents a large move to either side is highly likely, since large players have been likely accumulating or dumping shares throughout this flat period. This time around, I’m betting that it breaks to the upside. The reasons are as follows: Potential catalysts for Gold and Gold Miners: 1.) GDX is showing very strong upward momentum on the Money Flow Index, which is similar to the RSI except adding in volume. It’s showing that even though prices are not trending, buying pressure is increasing. I see this as bullish in the short term. 2.) Macro news will likely remain negative when considering the EU, therefore positive for gold a. May has to step down, speculation is betting on the next leader to be tougher about Brexit. High potential for an exit without a trade deal to minimize economic impact. b. Economic growth will not likely show a strong reversal anytime soon, given that negative interest rates have done very little to spur growth so far. 3.) Macro news in the US will most likely be neutral. a. Trump will most likely continue to tweet positive hope for deal. He has to calm the markets at least until he’s re-elected. b. Labor market is still showing increasing tightness. However PMI and new home sales have been failing to meet expectations. c. Next round of corporate earnings will not likely be as easy to beat as this first quarter. Since expectations were set extremely low. 4.) Market sentiment has been tough to break recently. With money flowing in to buy up the gap downs. Mainstream media is usually a good place to judge how the general public is feeling, and usually you should be looking for confirmation of the opposite direction of whichever way the news is saying the market will go. Right now I see some positive and some negative, leading me to believe the market will continue to be choppy with no clear direction, which is bullish for gold since uncertainty will maintain a support for safe haven assets. 5.) M&A activity picks up, bullish for miners. (This is probably not likely to happen any time soon, just fun to think about) a. An increase in M&A activity could draw investor attention to this long forgotten sector. All in all, I’m currently long miners with a healthy position in $NUGT. Placing my stop-loss a little more than half a percent below the nearest support. There might be a final push down by the big players to gather liquidity in order to make the breakthrough push upwards.
AMEX:GDXLong
by FireFly450
1
GDX -Waiting for a buy setupWe are getting closer and closer to an important buying opportunity in gold miners. Though yesterday we almost tagged the 200 SMA and bounced I still don't see that buying opportunity what i like to see at the gold miners bottom. At the beginning of today's trading we broke above yesterday's high which is usually a buy signal but after a few hours of trading we gave back all the gains and closed in the red. I think we are quite close to the bottom in days - 4-5 days only - but these last few days can be extremely scary as we print the cycle lows. First of all I dont see the volume spike what usually occurs at these intermediate bottoms: The other thing that we stiill have a gap between 20.5 and 20.8 which pulling down price like a magnet: Today was the 5th day since we broke below an important level at 21.41 and usually these breakdowns lasting for 7-8 trading days: Today was day 5 of the breakdown. So I would wait with the buying till next week in the miners as we might have 3-4 red days ahead in the upcomong trading sessions.
AMEX:GDX
by chartwatchers
3