GDX trade ideas
Gold Miners Have Had a Golden CrossThe Market Vectors Gold Miners ETF has one of the most interesting charts in the market.
Notice the steady decline from last summer, followed by a bump in the spring. It then gave back almost all those gains but still managed to drag the 50-day simple moving average (SMA) above the 200-day SMA.
That results in a strange situation with both SMAs falling – yet still in a bullish sequence.
Next, the recent drop erased most but not all the earlier bounce. It has managed to register a higher low (notice the weekly chart below).
Third, MACD has turned positive in the last few sessions.
Finally, stochastics on the weekly chart show an oversold condition:
The other catalyst could be the Federal Reserve because Jerome Powell was more dovish than expected yesterday. The U.S. dollar has trended upward lately, but in March GDX turned higher about two weeks before the greenback rolled over. So we could be at a start of a new pattern, with a dovish Fed lifting precious metals and dragging on the dollar.
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GDXpossible trend change here if this can be confirmed as higher low.
wouldnt touch options yet (unless ATM leaps w SL), but commons look good here.
time and patience needed in miners.
GDX RALLY SETUP We now have a clear 5 wave down look for rally MIN 36 IF BEARISH TREND IINTACT OR above 37.8 then we go much higher
GDX bottom pickerI think this move down in /GC is overdone and offering an opportunity to buy miners.
My dowsing is suggesting tomorrow morning for a buy entry on a dip. I'm not sure it takes out today's lod, but I suspect it'll be one of those dip and rip kinda jobs. I hope, anyway!
Actually, now that I look at /GC I can see it needs to clean up the lows around 1773. So if I see GC break that, reclaim it and look constructive on the upside, GDX will be good to go imo. And, so will /GC for that matter.
This is a serious low I'm looking for here that will send GDX up to the $54 area in September.
I like it, but wth do I know? We'll just watch and see.
GDX Gold Miners Hard DropHave not been posting nor updating publicly... but private circle saw the recent run up, and my suspicion that it would not hold. Circles were target points that were "surprisingly" met. (I dont know how to post the snapshots here, but anyways...)
Then this last week saw that GDX cut right through a target level earlier than expected.
A new support target is set, but I still suspect that there is more to come.
Gap Downs are hard, and on very high volume.
This down move is exacerbated with a spiking USD, falling Gold prices and Equities at risk.
Not yet ripe. Wait for it.
GDXBreaking this trend line will put Gold under more pressure to continue its down drop. keep your eyes on that.
$GDX So Bullish Looking!$GDX #GOLD miners ETF looks absolutely delicious. so bullish looking with that tight box consolidation $GLD
GDX : RESET / POSITION TRADE / HEDGEDuring the last three-month trading period, the VanEck Vectors Gold Miners ETF (GDX) has generated net inflows of 731.35 million. More importantly, we can see that the greatest selling pressures emerged after the Pfizer vaccine news was released on November 9th.
This suggests that the market is simply undergoing a temporary reaction to a news event and that further downside in GDX seems unlikely because any additional vaccine announcements would probably do little to change the underlying environment.
Moving out to an even longer-term view, we can see further evidence that these assertions are accurate because the VanEck Vectors Gold Miners ETF has actually generated net inflows of 2.37 billion during the last three years.
All together, these trend divergences tell us that investors might have an opportunity to profit from recent paradigm shifts in the precious metals markets. While this short-term enthusiasm might be moderately favorable for U.S. stock benchmarks into the end of 2020, we think that the prospects for economic deterioration during the first-quarter period of 2021 might be enough to send investors right back into safe-haven assets.
Ultimately, the VanEck Vectors Gold Miners ETF provides an alternative strategy for investors that are interested in moving deeper into the precious metals sector and its expense ratio of 0.52% remains near the middle of the range for the category as a whole.
SOURCE : INCOME GENERATOR, THE INCOME MACHINE / SEEKING ALPHA
seekingalpha.com
GDX FORECAST AND COMMENTARY - VANECK VECTORS ETF - GOLDGDX in the buy zone below green line. Stoploss below white line. Profits are lines above. The only thing stopping this thing from going up is the price of gold. I'm personally bullish on gold and recently bought some. Gold is trading pretty high and could absolutely go lower, don't think it can't. I have a good friend who has been buying gold for the last 20 years and he's praying for it go lower, haha. In all seriousness though the Maxx Momentum indicator showed a squeeze to the down side, so it could drop past 31. THIS IS NOT FINANCIAL ADVICE. THIS IS COMMENTARY AND RECORD KEEPING ONLY.
Be safe out there.
GDX Beautiful on all time framesIn GDX 40c .98 avg for 6/18
Monthly C&H, Metals are hot, inflation concerns = metals bullish
Flagging on Hourly and Daily is hot
GDX - Senior gold miners, golden crossGDX is an etf of senior gold miners. The golden cross (50 ma crossing above 200 ma) has occurred and has formed a flag on daily. The next fomc is not until june 15th, so we may chop here or pull back, depending on economic data.
GDX higher into June regulatory shake up for LBMAJune 2021: May see the beginning of the end of the London Bullion Market Association
The London Bullion Market Association (now known simply as LBMA), established in 1987, is the international trade association representing the global Over The Counter (OTC) bullion market, and defines itself as "the global authority on precious metals".
There will be a requirement for banks holdings to meet a ratio limit between tangible assets and unallocated assets. The ratio is named Required Stable Funding and the crux of the matter is that if the bullion banks can no longer trade their paper and unallocated gold without holding physical allocated assets, the derivatives market could collapse. The 3 parts of the Basel 111 regulations that affect the paper gold markets are:
• The Available Stable Funding factor (ASF) is applied to the sources of a bank’s funding on the liability side of its balance sheet. Depending on the liability (shareholders’ equity, customer deposits, interbank loans etc.) they are multiplied by a factor, from 100% for the most stable forms of funding, such as Tier 1 bank equity, to 0% for the least stable. Being on their balance sheets, unallocated gold owed to a bank’s deposit customers is to be given a Basel III ASF of 0%, which means it will not be permitted to be a source of funding for any balance sheet assets, which must therefore be funded from other liabilities.
• The Required stable funding (RSF) is to be applied to a bank’s assets. Unallocated gold positions are to be valued at 85% of their market value. Note that allocated gold, being held in custody, is not on bank balance sheets (except where the bank actually owns physical gold in its own right) and is therefore not involved in the calculation.
• The Net stable funding requirement (NSFR) is the ASF divided by the RSF and must be at least 100% at all times.
GDX resistance areaBig gap down resistance area from early november and getting overbought, some flagging here or a pullback maybe.
GDX - Resistance and Support zonesThis is a follow up of previous post.
GDX has moved up as expected.
I am trimming my position here. Sharing a couple of parameters I am looking at.
