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VanEck Gold Miners ETF

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GDX trade ideas

GOLD MINERS GDX bearish tonesPlease see Chart... recent minor failures hint of bearish tones, and technicals are crossing down. Overall, the equity markets are pushing higher on air and expecting a serious pullback soon, after a surprise trigger. Gold prices are not moving despite USD weakening... this is bad for Gold, and Gold Miners particularly. Once the USD jumps, and Gold drops, then the Gold Miners will be in double jeopardy. I like GDX, but it is reeking of danger right now. I would be very wary IMHO...
AMEX:GDXShort
by Auguraltrader
4
Elliott Wave View: GDX Ended Correction and Ready to Resume HighElliott Wave view in $GDX suggests that the Gold Miner Index ended cycle from March low in wave ((2)) at 33.16. The Index has turned higher again in wave ((3)) with the internal unfolding as an impulse Elliott Wave structure. Gold Miners still need to break above previous wave ((1)) high on August 5 at 45.78 to avoid a double correction. Up from wave ((2)) low at 33.16, wave ((i)) ended at 34.5 and wave ((ii)) pullback ended at 33.35. Gold Miners then extended higher again in wave ((iii)) towards 36.07, and pullback in wave ((iv)) ended at 35.7. Final leg higher in wave ((v)) ended at 36.4 and this completed wave 1 in higher degree. The Index then corrected cycle from November 24 low and ended wave 2 at 34.87. Internal of wave 2 unfolded as a double three structure where wave ((w)) ended at 35.23, wave ((x)) ended at 35.81, and wave ((y)) ended at 34.87. Up from wave 2 low, wave ((i)) ended at 36.92. Expect wave ((ii)) pullback to stay above wave 2 at 34.87, but more importantly above 33.16. As far as pivot at 33.16 low stays intact, expect dips to find support in 3, 7, or 11 swing for more upside. Potential short term target higher is 100% – 123.6% Fibonacci extension from November 24 low at 38.09 – 38.86.
AMEX:GDX
by Elliottwave-Forecast
1
GDX - GOLD MINERS ETF- After dipping under the 200 day moving average, buyers have bid the price back up and the share is poised to continue its up trend. - Stochastics moving off oversold - Major support area at $31.34 - This zone can continue to be tested and consolidate before making a new leg so i will be scaling into a trade . - Current fundamentals regarding stimulus / dollar will have a major role to play for the gold price -- MANAGE YOUR RISK - - Disclaimer: All ideas are my opinion and should not be taken as financial advice.
AMEX:GDXLong
by Trader-Dan