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GLD

GDX HAS COILED ENERGYThe metals have been stuck in a range for quite a while. Gold Miners ETF (GDX) appears to have made 5 waves up since the crash in 2020 and formed an ongoing complex correction. What do you think? Has GDX bottomed? Take note of the lower stoch/rsi wavetrend indicator and the broadening nature that has occurred since this correction. This looks like a hidden bearish pattern that will eventually break. When it breaks, GDX is likely to move up incredibly strong. Perhaps one more push lower? I don't know... But I'll be ready if it drops again. For me, I have some medium-longer term targets over 55-60.
AMEX:GDXLong
by gghsusa
3
Gold COT - Growing signs of bullishnessCommitment of Traders (COT) shows growing signs of commercial being less short than the last 3 months which marks a possible bullish sentiment potentially coming into this market. Discussion There are three core issues when looking at gold, in my opinion: 1) Basel III, has implications for trading paper gold - the majority of traded gold to date and its effects are not well understood; 2) Mark-to-market of commodities against the US dollar including gold; 3) Input costs of mining new gold (Oil) noting that a majority of the gold traded is simply 'paper' gold or derivatives - even by gold miners themselves. Notice that I have not made any commentary on inflation or deflation. There is no evidence from the perspective of the US market that either will be significant in the near to medium term, irrespective what the media and others promote. Suggestion Keep an eye of this, along with gold miners and ETFs.
COMEX:GC1!
by Adam-Cox
2
$BABA $NOW $CVNA $GLD I OptionsSwing WatchlistBABA 1D I Testing the $205 area for the third time, could be seeing a triple bottom before the breakout from this falling wedge. NOW 1D I We could be seeing a possible inverse H&S, Watching above the $567 level for continuation and possible retest of $600 before its ER. GLD 1D I After breaking out from a bull flag back, we are seeing GLD retrace back and possibly making a double bottom near $165. CVNA 1D I Showed strength last week and it is testing ATH levels. Watching a break above $325 with volume to see it continue run up into earnings.
NYSE:BABALong
by optionsswing
Gold BreakoutLike the seasons, the markets appears to be attempting a shift. I made a recent post about long term treasury yields flipping bullish this month so far and now Gold appears to be doing the exact same thing as it has seen a beautiful breakout of a descending broadening wedge. This is one of the more bullish patterns that exists, which means if this monthly candle shown on the chart confirms, big things could be in store for the precious metal. Keep a close eye on this and the stock market as a whole as the year goes on. If big money starts aggressively piling their cash into hedges such as gold and bonds, that could mean bad things for many of the overvalued stocks out there. This would especially mean bearish things for speculative tech stocks and cryptocurrencies.
FOREXCOM:XAUUSDLong
by TradeVibez
Closing (IRA): GLD September 17th 150/July 23rd 166... long call diagonal for a 15.43/contract credit. Comments: Money, taking, running on this (which was pretty much my original intention if I got the move). My cost basis was 13.88, (See Post Below), so my profit is the difference between what I closed it for (15.43) minus my cost basis (13.88) or 1.55 ($155)/contract. 1.55/13.88 = 11.2% ROC. Naturally, there could be continuation, but the most I can make out of this diagonal is the width of the spread (16.00), and I'm not sure I want to hang out another 17 days (the duration of the front month), since it's been flopping back and forth across that 166 mark for a bit (which is where I'd need price to finish above to realize max).
AMEX:GLD
by NaughtyPines
$AAPL $AMZN $NVAX $GLD I OptionsSwing WatchlistAMZN 1D I As AMZN earnings approach on 07/29, we are seeing AMZN about to retest ATH levels, expecting a breakout. AAPL 1D I After the breakout from our triangle AAPL running non-stop to retest ATH levels, earnings on 07/27 will decide where it goes. GLD 1D I After breaking out from a bull flag back, we are seeing GLD retrace back and possibly making a double bottom near $165. NVAX 4H I Is breaking out from a downtrend with volume, we are expecting to see a run up into its earnings on 08/09.
NASDAQ:AMZN
by optionsswing
Rolling (IRA): GLD July 16th 166 to July 23rd 166... for a .36/contract credit. Comments: Here, just rolling the short option leg of my GLD diagonal (See Post Below) while price is right at the short call strike to bring in a little bit more credit, reduce cost basis further, and improve my break even a smidge. I originally filled this for 14.24 (See Post Below), so my cost basis is now 14.24 - .36 or 13.88 and my break even 150 (the long call strike) + 13.88 or 163.88. Max profit potential now the width of the spread (16) minus my cost basis of 13.88 or 2.12.
AMEX:GLD
by NaughtyPines
Dollar, Gold and the Euro - where to next? I just read an idea posted in Tradingview that this is the time to buy the EURO. As well there is a lot of chatter about Gold being a gift at these levels. This big move started this week. I believe its too soon to take a position in either one of them. This is not to say there won't be backtests as investors rush in. Looking at these daily charts gives you the perspective to see what's really going on. So to be clear - the value of the US dollar (DXY) affects the EURO and GOLD - as the both are based on the relative strength of the DXY. This move isn't over - clearly the breakout is happening fast, it maybe over this upcoming week. However, that does not mean it return immediately to previous levels. Expect some accumulation and distribution. A higher US Dollar slows down: inflation, and debt ridden non-US companies with US Dollar denominated debt, who now have larger financial obligations. One thing that is VERY interesting is clear that all three, DXY, GOLD, and the EURO are balancing inside their respective triangles, for a much bigger move. If you have the answer to that - its worth a fortune. Why is this happening? The Federal Reserve has now signaled that there are at least two rate hikes forthcoming. While in Europe there is none of this talk, ergo higher rates - stronger currency. Last year there were numerous well respected pundits claiming the dollar was about to soar (such as Keith McCullough of Hedgeye and Raoul Pal of Real Vision fame) Pal wrote on Twitter April 25th, 2020: 'You see the biggest problem the world faces is the dollar. We are in a viscous doom loop where slowing growth causes the dollar to rise' I can't believe he hasn't deleted this tweet. When in fact the absolute opposite happened. So tune out the noise and watch the charts for the 'Real Vision' ;) Expect the US Dollar to push through the what is an obvious trend line and bend it not break it approaching the round psychological number of 93. This is also close to 1.61 Fib at the top of the channel. The yellow triangle is where you might consider taking a long position in either the metals or pairs that verses the US dollar. Levels are indentified where both GOLD and the EURO may fall to. As a side note, the US Equites have rallied in part because of weakness in the US Dollar, which rallied at every drop in the dollar - they may have some catch up to do as the dollar is rising faster than SPX or NDX is dropping although the Russell and DOW seemed to be paying attention.
TVC:DXY
by Maximilianned
3