Pair Trade: STAY LONG GOLD/SHORT GOLD MINERSWhether you're interested in hedging your long gold position or simply want to take advantage of a potential decline in the gold miners, the gold miners present an appealing opportunity in capturing alpha.
Goldminers
Speculative long idea for Gold Miners ETFGuess it is possible to get 15-20% gain here in less than 2 months.
The Bearish ‘Bat’ pattern is forming, point D can be near 16.
Bullish Harami near the lower Bollinger band can be treated as a reversal signal in a short time trend.
Point D is on the way of 200 day MA.
A positive gold seasonality from the end of December till the beginning of February can be a fundamental support for this assumption.
Gold Miners $GDX may be heading for a reversal A Gartley and a Cypher pattern is pointing to the same exact destination for a sell reversal. We have previous structure at $31.31 & $29.38 coupled with confluence with two 1.27 extension ratios. $29.95. and $28.96 at the .786 retracment will be our kill zone.
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