$GOLD miner ETF a break of descending bear channel downtrend suggests move higher to overhead resistance at 29.00 Stochastics divergence on recent low suggests $gold minders ETF should move higher by arcaraysUpdated 1
GDX gold miner ETF setting up LONGAMEX:GDX Based on the 4H chart as well as the price action of spot gold using an EMA ribbon cross-over as well as the volume profile, I have set up a long trade with two upside targets of about 10 and 20 % upside respectively with a stop loss of about 4% which would be adjusted as soon as the price rises above $ 27 to move the stop loss to the entry price making for a breakeven free trade after that. Overall, spot gold is sitting on support with a bullish RSI divergent pattern. I also see GDX as a candidate for the intermediate term call options out of the money about 15% above the current price being between the two targets.Longby AwesomeAvaniPublished 1
GDX BUY 20 sell 35NOT TARDING ADVICE Geometric charting If stonks bounce so should this GRI 2022 Bull divby Great_Reset_InvestingPublished 3
It's Time For Gold/Silver To Make A Big Move Higher (FEAR)We've all been watching Gold/Silver - waiting for the next big move. I think we've hit the bottom RIGHT NOW. FEAR is going to build over the end of the year as global market concerns continue to elevate. Gold & Silver should continue to rally higher off this Quintuple-Bottom level - or break downward if the Fed is able to navigate a soft landing. Either way, it's not or never for Gold/Silver.Longby BradMathenyPublished 2210
Elliott Wave View: Gold Miners ETF (GDX) Has Reached Inflection Short Term Elliott Wave View in GDX suggests rally to 26.40 ended wave (2). Wave (3) lower is in progress to complete a cycle from August 25th, 2022 high. Internal subdivision of wave (2) unfolded as a double three Elliott Wave structure. Up from wave (1), wave ((a)) ended at 25.23 and pullback in wave ((b)) ended at 25.44. ETF extended higher in wave ((c)) of W towards 26.22. Connector wave X completed as a zigzag correction at 25.30. GDX then resumed the rally in wave ((a)) ended at 25.98 and pullback in wave ((b)) finished at 25.53. Final leg higher wave ((c)) ended at 26.40 which ended wave Y of (2) GDX turned lower in wave (3). Down from wave (2), wave 1 ended at 25.75 and bounce in wave 2 ended at 26.18. The ETF extended lower in wave 3 towards 22.96. Internal subdivision in wave 3 unfolded as an impulse. Wave ((i)) ended at 24.40 and bounce in wave ((ii)) ended at 25.14. The instrument extended lower in wave ((iii)) of 3 towards 23.80. Then a shallow rally completed wave ((iv)) at 24.24 and last leg lower ended at22.96 completing wave ((v)) of 3. Near term, we are developing a corrective wave 4 and afterwards, it should continue lower to end wave 5 of ((3)). As far as pivot at 26.40 high stays intact, expect any rally to fail for further downside.by Elliottwave-ForecastPublished 114
GDX vs. BTC still holding uptrendI first published this chart in December last year with the view of owning gold & gold miners over Bitcoin. Whether you took a spread on Gold spot or gold miners(GDX) vs. BTCUSD, either one would have doubled your money this year. It has been a great trade indeed but interesting to note how strong this uptrend has been since the end of last year and there looks like no stopping this gravy train at the moment. In the absence of a technical break, I am still happy to own gold vs. bitcoin for now. Longby MarcoOlevanoPublished 111
Boat is loaded.No brainer here to go long on miners. Gonna see some insane gains in the months to come n I cant wait! Gonna fill my pool with gold coins and jump in that shyt like Scrooge McDuck when we rich!Longby PonzTraderPublished 220
GDX Buy SignalWill Gold be an asset that is integrated into BRICS global alliance as a mixed basket of currencies that dethrones USD hegemony in offshore-US transactions? #Bitcoin #HYG #Ethereum #KeynesLongby yeetosopherPublished 110
GDX suffering a low periodGDX, the gold miners ETF which once had a lot of potential is now in the doldrums. Having hit 41 in April 2022, it had almost halved within 4 months. Recently, an attempt to consolidate and rebound is seeing a lot of challenges. First, the Gold prices are in a bear trend, secondly, rising interest rates hurt the miners, third, the weak equities market also affect the gold miners. The GDX weekly chart has in the past couple of weeks attempted a rebound, but the past week pretty much wiped all gains out. This move mellowed the technical indicators and it is less than ideal to be a tad bullish at all. The daily chart obviously has technically bearish indicators crossing down with momentum. Overall, very likely to take out the last low. Nothing much except the obvious... bearish Editors' picksShortby AuguraltraderPublished 1313163
GDX: GDX-citing 🍿We hope you’ve all got your popcorn ready because it’s getting more and more exciting here! GDX has reacted to the upper edge of the magenta-colored zone between $19.52 and $27.49 and has slowed down its upwards movement. Although the ETF could directly continue the ascent, we still give it some more room and time to finish wave in magenta a bit deeper in the magenta-colored zone. As soon as wave in magenta is completed, though, GDX should take off, rise above the resistance at $28.83 and head for the next one at $40.13. However, there is a 30% chance that GDX could break through the bottom of the magenta-colored zone and drop below the support at $16.18, which would then activate further descent.by MarketIntelPublished 1
GDX recoveringQuick note that the GDX is finally recovering. After about 8 weeks, and a consolidation range, the GDX appears to be recovering with a nice gap up on the weekly chart. Technical indicators are turning up, and the daily chart would be testing the 55EMA soon... 29 appears to be a very strong resistance to break. by AuguraltraderPublished 335
GDX a long term GOLD MINEGDX has been pretty beaten up over the past year and we are at record Index lows for GDX. 10Y Bonds have fallen which is great for Gold. I'm expecting our FED to slow down tightening policy headed into the New Year. Even if we do not see Gold run GDX can still climb due to such a historical low valuation on GDX. Longby cursedcarterPublished 1
GDX has bottomed out, heading toward 29/31 zoneGDX has made a floor since Jul 25. The stock is about to recover some of the loses during the first quarter of 2022. Targets are 29.5 and 31Longby Quantific-SolutionsPublished 0
Tell me how you really feel. GDX Trend Channel Trade Chart Here's a 2 hour candle trend channel chart for GDX pre-FOMC. Today's FED update will be a big test for the PM sector. After a huge sell-off since April the trend appears to be making a bottom here. However, IMO - as I see it, a volatility spike low is a real possibility as bids and offers dry up around the news releases and Powell's presser. The tell will be in the follow through or reversal. Expect the longer trend influences to show up next week by hangonstaycalmPublished 0
Elliott Wave View: GDX in Support ZoneShort Term Elliott Wave view in GDX suggests cycle from 4/18/2022 high is in progress as a 5 waves impulse Elliott Wave structure. Down from 4/18/2022 high, wave ((1)) ended at 29.66, and rally in wave ((2)) ended at 33.52. Wave ((3)) lower subdivides into another 5 waves in lesser degree. Down from wave ((2)), wave (1) ended at 30.36 and rally in wave (2) ended at 32.80. Index then resumes lower in wave (3) towards 24.92, rally in wave (4) ended at 26.54, and final leg lower wave (5) ended at 24.38 which completed wave ((3)) in higher degree. Wave ((4)) pullback is now in progress as a zigzag Elliott Wave structure. Up from 7/26/2022 low, wave 1 ended at 24.86 and dips in wave 2 ended at 24.50. Expect a few more highs to end wave 3, then it should pullback in wave 4, before the last push higher in wave 5 to complete wave (A). Afterwards, the Index should pullback in wave (B) before the rally resumes again. Near term, as far as pivot at 24.37 low stays intact, expect dips to find support in 3, 7, 11 swing for further upside.by Elliottwave-ForecastPublished 4
GDX - where X marks the spotStructural support around 22-24 area. Should get a nice bounce back to 30ishby the_sunshipUpdated 555
#GDX vs SPYGold miners testing an important level of horizontal support vs. the SPY (relative chart). If it fails to hold 0.062, we could get further underperformance from gold miners relative to SPY. On the contrary a hold of this support and we could see gold miners start to outperform the general market. For that to happen it would be important to see a reversal form off this support (not happened yet).Longby MarcoOlevanoPublished 116
GDX Potential Position Trading OpportunityIn this update we review the recent price action in GDX and identify the next high probability trading opportunity and price objectives tot argetLong01:22by TickmillPublished 3
Stalking a Bottom in GDX Here's an update to the weekly Trend Channel Chart for $GDX I first posted on the 15th with a target of 24-ish as a possible swing bottom. the signal would be the tag of the Lower Rail intersection .. getting pretty close now.. the ideal bottom set up would see a spike through the intersect followed by a quick reversal back to the low Gold coloured rail... for me the Bull trigger is at 25-ish on the recovery .. tight stops of course as the zone could also fail into a deeper low.. by hangonstaycalmPublished 1
Gold/Spy RatioWatching this parallel channel here on gdx/spy. If this breaks down, it would imply that that gold is putting in a multi month topping patternby igobyjackPublished 0
This is capitulation ! This is the bottom COT ( commitment of traders) report is showing an extreme low in the positioning of non-commercials. As the old saying goes, when everyone is bearish, it's time to get bullish Long05:50by markethunter888Published 333
GDX GOLD MINER may bottom@24 or 21 zone to retest channel.GDX seems to be doing a BIG UPCHANNEL started from the 2016 low & retested at the 2018 low. If this lower channel is to be retested, GDX may bottom at the 24 green zone. This is the most probable since this is also the 2016 VWAP & the FIB 0.618 retracement from 2016 low. However, if you look at the VOLUME PROFILE, then GDX may fall more to the 21 zone to create a divergence, ending wave 1 of wave III. BULLISH longterm: Gold & gold miners will be a good hedge during rising inflation or recession. Every portfolio should have this insurance policy & some other defensives like XLV health, XLP staples & XLU utilities. TLT bonds will also rise during recession while US10Y rates go down in a deflationary environment. GDX may be just in the early stages of the longest wave III rally & has a long way to go. GDXJ Junior miners fell a lot more so I think percentage wise it will have to rise more just like today. Miners tend to be the leading indicator for GOLD. Gold may fall more to the 1670 to 1760 zone. Gold recovering 1800 will be very bullish while GDX reclaiming 30.37 wave 1 top & previous neckline pivot will also be bullish. Not trading advice.Longby xtremerider8Published 0