HGU
A little rebound for the Gold Miners perhaps?Long term I'm definitely a gold bug but I have warned repeatedly about near term risk (which I don't think has completely resolved if I'm honest). The market is euphoric but channels are now becoming apparent and lines are being drawn. It's very possible we have a small bounce in miners with the upper channel limits identified as well as some other possible diagonal resistances. Be careful, but a strong opening Monday could mean a quick trade for some easy money can be made.
XGD Gold stocks 45-day cycleI stumbled on this using the Tradingview cycle pattern tool and it seems to be a valid cycle although I don't know how long this cycle of bottoms and tops will continue. The next one is set for Oct 8. The only problem is I can't figure out if the next cycle date will be a top or a bottom. I guessed on the last one and made a 8.5% profit using HGU (2x ETF for XDG) buying on the next trading day after the cycle date and selling the next morning when it hit the top of the channel I'd drawn. Maybe someone else can figure out how to know if the next cycle date will be the start of a downtrend or uptrend. I tried a number of indicators and Bollinger bands but couldn't spot reliable pattern that I'd actually trade my own money with.
DXY - weekly, start position in metals. Gold and silverDXY - weekly, start position in metals. Gold and silver. Hitting resistance of $97.51, RSI was OB. $Nugt $hgu $slv watch for fomc coming up. They might turn hawkish with todays economic data. NFP jobs miss, but unemployment down to 3.8 % and hourly earnings up...Good luck!