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Goldminers

GDX Lame Duck ?This week, the GDX did a lame effort to test the 55EMA, if you could even call that a test. Hence, the 55EMA failure was pretty much a lame effort too. This downward consolidation is growing lame and old, but it does appear to continue perhaps for a bit more as I do not yet see strength in the accumulation... having said that, when it comes, it is likely to be rather overwhelming. For now, the same zone is pushed forward as a Buy Zone or Break Zone. This is like fishing... all is lame until the big bagger comes, when it really comes, it comes with a hard fight! Stay safe!
AMEX:GDX
by Auguraltrader
GDX possible bottoming out... or?Over the last couple of weeks/months, perhaps even since Aug 2020, GDX had been a tad challenging but also very intriguing. Firstly, the number of fake outs by GDX is numerous over 2021. Secondly, it is followed by failures for lower lows. Third, an opportunity appears to be forming... it is almost time. The weekly chart on the left failed the 55EMA yet again, and returned to close near the range low, on a solid candlestick. Technicals are bearish, as is price action. The daily chart demonstrates how quick a breakdown it can have, but also appears to have bounced off a long term steady support. The candlesticks show a classic example of bearish outcome, and even a possible technical bounce in the coming week. Technicals however are skewed slightly towards bearish. Overall assessment is that we have a chance of GDX bottoming out, but also at risk of a breakdown, possibly.
AMEX:GDX
by Auguraltrader
1
GDX Fake Out burns badIn the last post on GDX, it was mentioned: "Oops... Gapped down later last week. Again, more downside, watch for breaking of the range into the Buy Zone, and more importantly IF the support holds (white line)." For most of the week, I looked like a fool... as GDX closed the gap, tested a minor support and then spiked a long candle above the daily 55EMA. I have to be honest, I did relook and asked myself IF I missed something, misread or was biased. And then comes Monday, and by midday of trading, the previous gap down is reopened. Together with re-entry of the consolidation zone (as expected), and a repeated failure of the daily 55EMA, this story now signals an exit on the other side of the consolidation zone. Candlesticks (weekly and daily) all appear bearish, and not even needing to mention the technical indicators. Notwithstanding, I am looking for a slight higher low from the 15 Dec low, in the Buy Zone marked, over the current week. Have to keep reminding myself to be patient. When it happens, it will be very obvious. Meanwhile, I am hanging on to my knickers! LMAO...
AMEX:GDX
by Auguraltrader
4
GDX consolidating to downside biasQuick update that previous attempt for GDX to rally up was pre-mature. Still not yet in a bull trend. Weekly chart had a break out above 55EMA fail in the last couple of weeks, only to bounce off a support. Technicals not totally aligned so may consolidate for a couple more weeks before some clarity forms. Daily chart (right panel) shows the failed attempt, which now has a clear resistance line (lime green). Last week ended with a failure type downward candlestick, suggesting weakness in a rally. Technicals appear somewhat bullish, in contrast to weekly chart. Expecting some consolidation, with a little downside bias within range.
AMEX:GDX
by Auguraltrader
Montage Gold - D1 - dec 2021LAST news : is pleased to report additional near surface high-grade drill results from the Petit Yao Central target within the Koné Gold Project ("KGP") in Côte d'Ivoire. The Company is also pleased to provide an update on the ongoing Feasibility Study and permitting progress at the KGP as well as other exploration activities within the portfolio. Hugh Stuart, Montage CEO commented, "We continue to be impressed with the high-grade drill results at Petit Yao Central which is showing potential as a satellite pit for the KGP. The mineralization sits near surface, predominantly in oxides, is shallow dipping and is open in all directions. This program will enable us to evaluate the resource potential of Petit Yao Central while we plan to test the strike extensions.
TSXV:MAULong
by stratanic
Bullish Fundamentals and Technicals !!before saying anything I would like to mention the upcoming Drill results which could be a serious catalyst for the price of Labrador Gold corp. So in term of due diligence I do not just speak to Technical chart but also to extensive research such as Grades ,jurisdiction, financials and more. with that in mind, looking at TSXV:LAB one cant not notice the following Indicators: -Bullish diversion in Momentum in the MACD : ✔ -Bullish diversion in Momentum in the RSI : ✔ (which are both signalling upside in the near term) -also the STH Daily Bollinger bands are signalling a contraction to the upside : ✔ With regards to further TA : -Double bottom Formation : ✔ -possible Resumption of 200 Simple moving average : ✔ -Breakout from diagonal resistance and back test : ✔ The Chart is screaming BUY BUY BUY BUY !!!!!!!!!!
TSXV:LAB
by meeblemalta
Gold 1-day classic patternsQ: What has the highest probability of occurring? In 2021 gold has been rotating between $1900 and $1700 per ounce. While a variety of classic patterns have either formed or attempted to form throughout the year there appears to be a broader attempt at a double bottom in 2021. The double bottom, having recently tested and rejected 1700, would need to breakout from ~1915 to be validated. This pattern projects 2150 as the target. Objectively gold was in a very strong uptrend from 2018 through 2020 and after making a new all time high in August 2020 the price has corrected almost 20%. There is clear support at 1700 and resistance at 1900. Continuing range bound price action suggests a mean price of 1800. The price is not going to reach 2150 on its own volition. Some factor's worth considering include risk-on/risk-off sentiment, Federal Reserve monetary policy, US Dollar valuation, political events, government trading, and the global supply from mining. Since the double bottom is not validated the current position is neutral with a bias in favour of mean reversion about 1800.
OANDA:XAUUSD
by xciiitradingco
The Commodities Index Looks Set to Go LowerThis index is breaking down after showing bearish divergence and having a false bullish breakout on the Daily and Weekly. Based off this and the weakness we're seeing in the commodities themselves i expect the prices of Precious metals to begin a new downtrend in the coming weeks and for the price of Thongs such as Wheat and Soy to have a major decline. I would also expect many Mining Companies to go down such as FCX and SA and for the Value of the US Dollar to rise.
TVC:TRJEFFCRBShort
by RizeSenpai
Quick Precious Metal UpdateXAU/USD – Weekly What a week! $1670 held again as support during the Monday morning flash crash (which was most probably driven by a large liquidation). The weekly candle looks ugly but in terms of the range and support level I talked about last month there is not big change in the bigger picture. For the patient traders who work with limit orders it was a good opportunity to get some long exposure. For the longs, $1670 needs to hold and for the more risk averse ones we need to see a break to the upside through the base line which comes in at around $1845. XAU/USD - Daily As mentioned in my previous month comment the dip enabled patient buyers to get some long exposure. Currently the price is sitting right at the large liquidity pool of $1750 and it probably will consolidate there for a while. Last week we quickly got tricked by the price pushing through the base line but then on Monday straight through it on the downside again. What remains is the confluence of the $1845 which seems to be the current resistance plus the upper end of the Ichimoku cloud. This is an important level for the bulls. I am expecting some buying momentum to come in if/when we break that level to the upside. The downside level to watch remains the $1670. XAU/USD – 4 hours Yeah… it looks ugly I have to agree. There is not much to add on this chart. It does not show any immediate trade setups. XAG/USD – Weekly In no mans land. We are between the two larger liquidity pools which I have drawn already last month. Both of my bullish pattern (the flat and the triangle) are out of scope now. No trade setup as long we are in the middle of the range. XAG/USD – Daily Pretty much the same story here. The $22 level shows some intermediate support but I would still wait till we are closer to either the upper or lower end of the range and then check for a potential trade setup. XAG/USD – 4 hours It is looking a bit clearer here in terms of bullish trade setups. We need to take out the $26 level before even thinking about any long positions. The downside is already covered by the range we defined on the daily chart. GDXJ – Weekly Many potential bullish patterns got erased with the Monday flash crash in Gold. Same here on the potential symmetrical triangle. The Ichimoku cloud is still bullish but the market sentiment does not feel bullish. $31.50 is the support level to watch. GDXJ – Daily Maybe we are in a downward moving channel and currently just sitting on the lower end of it. For the brave ones go long here with a target towards $47. But there is no clear stop, so I would rather play it as a 3-leg strategy to go long the first leg now. Place a second bid in the $37 region and the last one at around $33. Then you can place the stop just below the $31.50. Your target is in the region of $56. GDXJ – 4 hours No additional comments to make on the 4 hours chart I am afraid…
OANDA:XAUUSD
by Heussi
1