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Goldminers

Gold 1M outlookI thought it would make sense to look at the 1M chart in order to analyze gold for the longer term, based on a purely technical analysis. The orange bar has become a resistance level since 2011, and this trend has held up to now. With that being said, both the RSI and MACD bottomed out in 2013, yet we've seen consistently lower prices since then. We also seem to have started a new bull RSI trend since this bottom as well, hitting higher lows on the RSI for each drop in price. We look towards 2017 as the year we can finally break this orange trend-line established over 5 years ago, as the RSI and MACD are pointing us towards another re-test. I will not only be watching the $1200 level (which has been a key transition area for years), however I will also be watching the $1270-1300 level, as this would be the retest level for the orange bar.
FX:XAUUSDLong
by GeorgeJimas
1
gdx miner cyclefor those who follow cycles, here is my chart of the gold miners cycle. this chart forecasts that as of 1/12/2017 we are due for a miners cycle low in the second part of january 2017. this cycle will give us hints as to the Trend of gold. The current Daily cycle looks right translated (the high is in the second half of the cycle) and has gone higher than previous cycle (see arrows). if the bottom of this upcoming gdx cycle closes Above the previous daily cycle low (see line labeled "Critical level" - we must find a cycle bottom Above that line), it will make a strong signal that the daily cycle Downtrend is Over and we are starting a new Daily cycle uptrend UP. In plain language as long as we dont make a lower cycle low, it is a strong signal that gold is now in a long term uptrend! so it looks like there maybe a good Short trade here for a few Days, and then once we bottom, a good Long trade if we dont break the low. same cycle applies to GDXJ
AMEX:GDX
by Proph1t
Stepping back - 2017 gold tradeI have been long miners since November 14th, and am currently only down a few percent. I am by no means a scalper, so keep that in mind when you view this idea. There is a strong bull RSI divergence on the 1W chart, as illustrated above. (the divergence from the 1D chart is still there, however I am taking a step back with this idea). I think we have almost bottomed out on the MACD. This tiny interest rate raise means virtually nothing. You don't raise interest rates only 0.25% if you believe the U.S economy is healthy. We're currently sitting at a lower interest rate level then when they were dropped to 1% after 911 (a huge crises). I'm calling bs on the 3 rate rises during fiscal 2017. I believe we will see a strong rally at the beginning of January, and this will only continue when the Fed does not raise rates during 2017. We will see 1400-1500 in the first half of 2017.
FX:XAUUSDLong
by GeorgeJimas
New lows in gold for 2017?$GC1! has pretty much proven the 2016 rally was just a reaction high. We'll have confirmation if we close year end below 1307. A close below the 1179 quarterly bearish for year end would raise the probability of new lows DRAMATICALLY. Would be great value if we could get a pullback to the previously elected monthly bearish level (1242.1) and 50/60 ema. That move would most likely coincide with a pullback in the $DXY -0.14% and $DJY0 to their fib/ema areas. As Marty always says, just watch the numbers.
COMEX:GC1!Short
by patrick186
BULLISH DIVERGENCE IN GOLDI believe there is currently a strong bullish divergence in the RSI and MACD. My TP is 1250$, and I will re-evaluate gold when/if we get to that level. We are currently making higher lows in both the MACD and RSI (while the price decreases), which leads me to believe we will see a strong up move in the following days. My advice is to avoid listening to the gold chat too much, as people will claim 1000$ if we drop 1$, or 1400$ if we go up 1$. I would also advise to avoid listening to people who do not post charts, yet seem to be spamming the chat with nonsense all day, or the people who post charts, but continue to change their opinion/strategy every 10 seconds. There are a lot of people on here who provide advice based off their current position (their own interests), so be careful when following others. Follow your strategy, and stick to your chart. Goodluck.
FX_IDC:XAUUSDLong
by GeorgeJimas
2
THE GOLDEN CHANNELI went long on miners at points A, and B. I have been using this channel since October 24 to help analyze whether or not to add to my longs, or if we would drop to my second trend-line. Based on the help we received from Clinton today, and the fact that we closed over 1275, I believe the lowest we will see next week is 1268/69 (this is based on my trend-line, and RSI ticking up). I do not believe we will close below 1270 all week, and I think 1290 is a realistic target. (this is of course unless the Fed decides to raise interest rates in November, which I think is highly improbable). I also do not foresee us dropping down towards the second trend-line unless NFP is very strong (which I also believe will not happen). I believe Bulls will have the momentum for the upcoming weak based on how this week ended (close over 1275), and I feel that the Fed and the NFP report will help solidify their grasp on the week.
FX:XAUUSDLong
by GeorgeJimas
GDX - Bull Market Soon to ResumeWe are nearing a bottom in the gold miners in the form of a wave 2 of the full wave 1 move up from the January low. The recent price movement on Friday gave us the setup for the final leg down as a v of C which can take the shape of a 5-wave impulsive move down or an ending diagonal. The bottom should be struck between the 50% and 61.8% retracement of the larger impulsive wave 1 high of 31.79, aiming for the 22-20 range. Once the correction is complete, we should then be prepared for the larger degree wave 3 move upwards that will take the GDX to at least 50.
AMEX:GDX
by Eboard10
2