Metals and MinersBullish setups galore with one more low possible before the bigger move up. Worth watching all of these for a long term (swing) trade. Long06:27by the_sunshipUpdated 558
#GDX Reversal? AMEX:GDX The Vaneck Gold Miners ETF has notably developed as Long as it breaks out of a previously established downward channel on the weekly chart. This upward movement finds support at the year's initial lows of $26, which also corresponds with the pre-COVID lows. This resurgence is further validated by the presence of a bullish MACD crossover, adding a bullish momentum signal to the analysis. #VaneckGoldMinersETF #BullishTrend #MACDIndicator #PreciousMetalsLongby sajalgoelinPublished 5
$GDX Trend Line Break AMEX:GDX Trend Line Break, echnical breakout in the chart of AMEX:GDX , which is an ETF that tracks the performance of companies involved in the gold mining industry. A "Down Trend Line Break" to the upside is typically seen as a bullish signal in technical analysis. It indicates that the security in question, in this case AMEX:GDX , has broken through a declining trend line, suggesting a potential reversal or change in the prevailing downtrend. Longby AlgoTradeAlertPublished 4
Bright future ahead for gold and silver minersAs long as the price holds recent Oct lows, I will continue to expect it to move towards next important resistance area: 31-35-38. Afterwards it would be ideal for price to consolidate and form a handle part of the cup with later break out above 35 pivot to confirm its intentions to move to next important resistance areas: 43-48-52 Short-term trading thesis: I will wait for price to consolidate around prior highs (preferably 29-30), providing a low risk entry point to consider any long trades. Long-term trading thesis: Establishing a position within this potential basing periods along the right side of the cup with later breakout - all these looks reasonable for me for any positive expectations in coming months and 2024. Important notice: Elliot waves and fibonacci retracements are a very subjective form of analysis and I don't personally trade out of them. I use them only for the purpose of gauging structural potential of any assets, that allows me to put more confidence when low-risk trading set-up emerges. Analysis and opinion doesn't pay, only price pays. Longby artemfedorovPublished 0
Gold Miners (GDX) Approaching Support ZoneGold Miners ETF (GDX) shows incomplete bearish sequence from 5.4.2023 high looking for further downside. In shorter cycle, the decline from 7.18.2023 high is in progress as a 5 waves impulse. Down from 7.18.2023 high, wave 1 ended at 27.27 and rally in wave 2 ended at 30.13. The ETF then extended lower in wave 3 towards 25.68. Internal subdivision of wave 3 unfolded as a 5 waves in lesser degree. Down from wave 2, wave ((i)) ended at 28.79 and rally in wave ((ii)) ended at 29.41. The ETF extended lower in wave ((iii)) towards 26.62 and rally in wave ((iv)) ended at 27.59. Final leg wave ((v)) ended at 25.68 which completed wave 3 in higher degree. Wave 4 is currently in progress to correct cycle from 9.21.2023 high in 3, 7, or 11 swing before the decline resumes. Potential target for wave 4 is 23.6 – 38.2 Fibonacci retracement of wave 3. This area comes at 26.74 – 27.39 where sellers can appear for further downside. Potential target lower is 100% – 161.8% Fibonacci extension from 5.4.2023 high. This area comes at 20.6 – 25.2. If we assume that 9.26.2022 low at 21.52 will hold, then the area of support should be 21.52 – 25.2.by Elliottwave-ForecastPublished 2
GDX Big Drop to Demand ZoneGDX formed a Head and shoulders and the measured move takes it down to the demand zone and the lower channel. I think it will get there in 3 weeks by Oct 20Shortby EliteTrader101Published 0
GDX could see a 18-20% rally from here 🚀break past trend resistance/30.25 and GDX may finally start to break out of its downtrend! a rally to 32.47-35.68 should follow if we get that bullish breakout boost and follow for more.. thanks 💜Longby Vibranium_CapitalUpdated 6614
$GDX: Will 30 get a pop?Spot gold and GDX are both showing reasonable strength today I'm wondering if they can keep it going at all. NEM and WPM both seem like they're trying to pull off a reversal so it's possible at least something can be gained here.Longby Fox_TechnicalsPublished 0
GDX- Bullish/Bearish BiasAs you can see from the chart, listed above are the bullish and bearish counts for Elliot Wave. The current PA suggests a bullish bias however if tomorrow FED raises Interest Rates or is Dovish. We could see the bearish count in play which means ABC in red is complete and the downside target is 28. Now the PA can push through the invalidation level of 30.3 and drop as well. For bullish PA that is above 30.3 hourly/4hour, First Target for TP will be 30.88.by Aman_FXUpdated 2
GDX trade plan based on AMEX traders activityA significant straddle on GDX was concluded at the end of trading on September 06 on the AMEX exchange. IMPORTANT! Based on our team's research of the options market, we expect buy activity at the support level or sell activity at the resistance. We primarily consider levels to be activity zones, but not to be a super-fine level for establishing a limit order. Use them in combination with our own strategy, not in alone.by ClashChartsTeamPublished 3
GDXFolks ....view this nice bounce on exact point that i have mentioned to you ..... interesting enough..... my last analysis:https://www.tradingview.com/chart/GDX/T4rwl6m2-GDX/ GoooooD LucK by Logical_MarketsPublished 1
GDX Lower Low Sequence Supports More DownsideThe short-term Elliott wave view in GDX suggests that the cycle from the 5 May 2023 peak is showing a 5 swings lower low sequence in higher time frame charts. Supporting more downside in the instrument. The decline from that peak is unfolding as an Elliott wave zigzag correction where wave (A) ended at $30.11 low. Wave (B) bounce unfolded as a lesser degree flat correction where wave A ended at $32.30 high. Wave B ended at $28.76 low, and wave C ended at $32.92 high thus completing wave (B). Down from wave (B) high the decline is unfolding as an impulse sequence favoring more weakness. Whereas wave ((i)) ended at $31.01 low. Wave ((ii)) ended at $31.98 high, wave ((iii)) ended at $28.67 low, wave ((iv)) ended at $29.61 high. Below from there, wave ((v)) remains in progress with a minimum extension target coming at $28.45- $28.09 area lower before the next bounce happens. Near-term, as far as bounces fail below $31.98 & more importantly below $32.92 high the GDX is expected to extend lower to reach the extreme from May peak towards $26.77- $22.98 target area before a turn in favor of the ETF happens.by Elliottwave-ForecastPublished 2
GDXHi,my first target for going long on GDX is 27.5__28....be ready for that ,by the way i will start that after gold decline.... what is your comment ? Good luckLongby Logical_MarketsPublished 2
GDX - Pitchforks and Algos - who will win?GDX has a fairly clean set up if one looks deep enough. If Algos and pitchforks are the best plays in trading then you've come to the chart for you. Some simple insights for anyone interested. Algos - sell side algo is active and suggest a target of less than zero -$0.74 ish, buy side algo suggest one of those red lines above will get tagged. Pitchforks say that the median line has an 80% chance to get tagged once defined, and if this does not occur a move equal to or greater than the last pivot will occur. IMO, the sell side pitchfork median line will be very hard to achieve, hence the higher targets for GDX, but not after it completes another 5 waves down into this buy side algo (this second tap should give it the fuel it needs to get to that white zone (which aligns with the last pivot for the sell side pitchfork) and it could give it enough juice to make a nice double top for GDX before it heads towards $12.40 or lower. Some EW on the chart too. Yellow region gives me the thought to go higher as it is tough to get a motive count from it. Could also be setting up an EW 1:2, 1:2 off the lows, but that is very low probability atm. GLTA! by kstrizzle001Published 0
GDX Gold miner ETF looking promising right now GDX Gold miner ETF looking promising right now Similar to other precious metal price action right now by Alphahunter07Updated 3
#GDX possible reversal levelsThe activity of the options market confirms the liquidity that shown on the graph. Which side will they choose? Stay tuned and will find out. We consider levels to be activity zones, but not to be a super-fine level for establishing a limit order. Use them in combination with our own strategy, not in alone.by ClashChartsTeamPublished 3
Gold Miners ETF (GDX) Bullish View Showing Impulsive RallyRally in Gold Miners ETF (GDX) from 6.29.2023 low is in progress as a 5 waves impulse, favoring further upside. Up from 6.29.2023 low, wave 1 ended at 30.8 as the chart below shows. Pullback in wave 2 ended at 28.91 with internal subdivision as a zigzag structure. Down from wave 1, wave ((a)) ended at 29.74, rally in wave ((b)) ended at 30.03, and wave ((c)) lower ended at 28.91 which also completed wave 2. Wave 3 is currently in progress with internal subdivision as a 5 waves impulse in lesser degree. Up from wave 2, wave ((i)) ended at 29.82 and dips in wave ((ii)) ended at 29.20. The ETF then extends higher again in wave ((iii)). Up from wave ((ii)), wave (i) ended at 30.47 and pullback in wave (ii) ended at 30.03. The ETF then extends higher again in wave (iii) towards 32.26 and pullback in wave (iv) ended at 31.96. The ETF made another leg higher in wave (v) towards 32.4 which completed wave ((iii)). Pullback in wave ((iv)) ended at 31.48 as a zigzag. Down from wave ((iii)), wave (a) ended at 31.9, wave (b) ended at 32.38 and wave (c) lower ended at 31.48. Expect the ETF to make 1 more push higher to complete wave ((v)) of 3. Afterwards, it should pullback in wave 4 to correct cycle from 7.6.2023 low before it resumes higher. Near term, as far as pivot at 28.91 low stays intact, expect dips to find support in 3, 7, or 11 swing for further upside.Longby Elliottwave-ForecastPublished 2
GDX could shoot as high as $40.00 in the next 30 or so daysGDX is forming a heads and shoulder pattern that potential shows the stock rising as high as $40.00. There are a few resistances that GSX will need to break through. I believe the first one is around 32.33 (Very close now), then between ($33.00 and $33.40) and finally around $36.40. What are your thoughts?Longby joecoylePublished 225
Shavan Iranian shareHi look at this iranian share i will buy that there .... Good luckLong00:10by Logical_MarketsPublished 0
GDX - Time to shine ? GDX showing signs of green shoots. If it can break $30.60 we could see a relief rally back towards $35. RSI divergence + some bullish candle closes. A move below $27 negates the idea. by Trader-DanPublished 221
GDX heading down... It has been more than 6 months since I looked at GDX proper. Yes, I might have missed the last Gold/GDX rally, but I think that short run is about over... Looking at the weekly chart for GDX, a decisive lowest close since March 2023 is representative of a end of a bull trend, if it is not already obvious enough. The near marubozu type down candle came after a quick dip and a lower high, to get a close near the lower low... which just prevails the downward momentum. Few other notes... 1. a trendline support breakdown this coming week would accentuate the downside bias; 2. the MACD and VolDiv have crossed down and looks determined to crossunder the zero line; 3. any further breakdown bring it into the previous consolidation range. And a break in into the range suggest an extrusion on the other (lower) side of the range; 4. Noted that the USD appear to be gaining strength and the equity markets are about ripe for a retracement. Furthermore, the Gold analysis point to a further slide in Gold prices. Taken together, these 3 critical pillars for GDX are impacted, whcih gives little for the bullish case on GDX. Down it goes... heads up!Shortby AuguraltraderPublished 2
GDXBuy some GDX here in the FED channel bottom area and we are constantly finding dollar strength selling pressure on gold By closing the previous week on the chart, we find selling pressure, and by breaking the channel drawn on the charts, we find it at the next levels 26.55 25.16by SaraAssafPublished 3
GDXBuying some GDX here on the FED non event and nice pullback into support/demand zone .Longby SilvaBullUpdated 3