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VanEck Gold Miners ETF

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GDX trade ideas

GDX: Will you make it? 💪This is what we ask GDX regarding our primary scenario. The ETF has shown momentum in both directions: upward and downward. However, we expect the bulls to win this fight, pushing GDX above the resistance at $32.58 and into the turquoise zone between $33.93 and $35.57. There it should finish wave ii in turquoise and turn southward again, heading back below $32.58. However, our secondary scenario shouldn’t be disregarded! There is a 40% chance for the bears to triumph. In that case, we would have to wait for wave alt.(5) in yellow to expand first, which would then include a new low.
AMEX:GDX
by MarketIntel
Raining Gold"When it's raining gold, reach for a bucket, not a thimble." - Warren Buffet Hello friends. We think that this is a big opportunity to get bullish exposure to gold miners, and it's good to adjust the sizing according to the edge so we are building a big long position for gold miners. There are several factors that make this a great time to get long. For one thing, gold miners are simply priced well. They are trading at a cheap P/E ratio average of 16.6 presently, down by a lot from the bubble highs. Another factor to consider is seasonality. Gold enters an enormously bullish period in September and then continues to rally through the end of the year with the exception of October. A big factor that the market isn't even seeming to consider is the fact that gasoline futures have now fallen by around 40%, which is a good sign that inflation has peaked and also means a lower cost basis for the gold produced by gold miners since they use up gasoline and many other commodities within their process of extracting gold. Cheaper gasoline will mean the other commodities used in production can also get cheaper.
AMEX:GDXLong
by bowtrix
9
Elliott Wave Expects Gold Miners ETF (GDX) Buyers expect soonGold Miners ETF (GDX) shows a bullish sequence from 9.26.2022 low favoring further upside. The 100% – 161.8% Fibonacci extension target from 9.26.2022 low comes at 38.3 – 45.7 area. Rally from there is unfolding as a nest where wave ((1)) ended at 33.34 and wave ((2)) pullback ended at 26.64. Wave ((3)) is in progress as another 5 waves in lesser degree. Up from wave ((2)), wave (1) ended at 36.10. Pullback in wave (2) is in progress to correct cycle from 2.24.2023 low in 3, 7, or 11 swing before the rally resumes. Internal of wave (2) is in progress as a double three Elliott Wave structure. Down from wave (1), wave ((a)) ended at 34.38, wave ((b)) ended at 35.19, and wave ((c)) ended at 34.07. This completed wave W in higher degree. Corrective rally in wave X ended at 35.19. Wave Y lower is in progress as a zigzag structure. Down from wave X, wave ((a)) ended at 33.60, wave ((b)) ended at 34.63, and wave ((c)) of Y should reach the extreme area at 31.9 – 33.15 blue box area. From this area, the ETF can extend higher in wave (3) or rally in 3 waves at least.
AMEX:GDX
by Elliottwave-Forecast
Recession is near ......watch out !!!Read these articles here , I am not a scholar to know what the government sleeves are up to but this article spells something is brewing round the corner. If you read some of my articles last year, I did say that I expect the Feds to start lowering the interest rates as unemployment figures will begin to climb higher. So far, the latter has not happened though we witnessed many tech companies reducing their head counts. Food prices around the world have gone up drastically together with property prices with the exception of your salaries. Think about it , many countries like China, Singapore, South Korea, etc are experiencing aging population with low birth rates. As the workers get into their late 40s , it becomes harder to find a job that pays the same or higher. So, they are stuck in their current job, many are unhappy but for the sake of their mortgages , they have to suck thumb and stay with it. Then another trend appears - part time and freelance jobs. For those who has little choices, they have to double up to take on extra jobs after their working hours just to make ends meet. From being a tutor to becoming a Grab food delivery rider. We all agreed things back in our grandparents days were much simpler and things definitely costs less. They have fewer wants and needs so even with lower wages, they can get by. We are in a different era now. Regardless if you think Gold is a productive assets that generate returns or not, it is still in the mind of many (including the Government) to buy gold when recession is forthcoming. When will this change? I don't know. Just be a trend follower and ride the wave out . Just remember, not to stake all that you have but allocate a fixed percentage (5-10%) of your capital to different assets class. That way, you are insured that at any point in time, the probabilities of a total collapse of all asset classes is reduced. Think harder, if your earned income become lesser, your reserves to set aside for investment should naturally reduce as well. That means, your spread to different asset class also reduced. So, finding other sources of income become even more crucial in times of recession coz nobody knows for sure when you are going to be replaced.
AMEX:GDXLong
by dchua1969
Gold Miners ETF (GDX) Develops Elliott Wave Bullish SequenceGold Miners ETF (GDX) is close to breaking above the previous peak on 1.25.2023 high (33.34). A break above will open up a bullish sequence from 9.26.2022 low favoring further upside. Near term, cycle from 3.10.2023 low is in progress as a 5 waves impulse Elliott Wave structure. Up from 3.10.2023 low, wave 1 ended at 29.95 and pullback in wave 2 ended at 28.50. Wave 3 is currently ongoing with internal subdivision as another 5 waves in lesser degree. Up from wave 2, wave ((i)) ended at 31.99 and pullback in wave ((ii)) ended at 29.63. We can see wave ((i)) and ((ii)) in the 45 minutes chart below. The ETF then extends higher in wave ((iii)). Up from wave ((ii)), wave (i) ended at 31.80 and wave (ii) ended at 30.74. Wave (iii) ended at 32.80 and pullback in wave (iv) ended at 31.95. Final leg wave (v) of ((iii)) is expected to end soon, then it should pullback in wave ((iv)) before turning higher again in wave ((v)) to complete wave 3. Near term, as far as pivot at 29.63 low stays intact, expect dips to find support in 3, 7, or 11 swing for further upside.
AMEX:GDX
by Elliottwave-Forecast
GDX: Gardening 🌱🌷🌹It’s springtime and GDX is working on wave B in green in its green garden between $30.01 and $32.58. Soon the ETF should harvest the respective high, which could be settled anytime. Afterward, the course should turn and leave the garden on the southern side to expand wave ii in orange. This downwards movement should end well before the support at $21.52, though, so that GDX can resume the ascent. However, there is a 38% chance that the ETF could slip below this mark and thus continue the descent instead.
AMEX:GDX
by MarketIntel
2