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VanEck Gold Miners ETF

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GDX trade ideas

GDX Clearly broken out - Targeting 46As shown in the daily GDX chart, the turquoise trend lines mark the support resistance trend lines, as well as show a standard flag pattern. Previous upside target in 2019 was 36, it now is upgraded to 46, based on chart pattern and Fibonacci projections. Recent price action saw a gap above the trend line resistance, and consolidation before yet another gap up (over a minor parallel trend line resistance). Also observed that MACD is supportive with a break up cross into the bullish territory, and a break above the MACD trend line at about the same time. Bullish, target 46, around mid-August 2020.
AMEX:GDXLong
by Auguraltrader
Keep an eye on GDXGDX is the ETF for gold miners. This sector has been beaten down severely since its 2010-11 highs, when everyone was hedging against printing from Bernanke. If only we knew then what Powell would have become... GDX has broken out the $32 resistance, which has acted as a strong support in the last month. If Gold AUG futures (left axis, in orange) manage to get through the $1800 resistance, it is just a matter of time before we get in the mid 40s. That would represent my target in a few months, especially given that the equities market is not pricing in at all the possibility that Democrats take Senate and Presidency. Buy GDX or even better long term calls dur to the recent consolidation.
AMEX:GDXLong
by nikodemuskell
GDX : HEDGE FOR MARKET UNCERTAINTIESGDX is a fund that invests at least 80% of its total assets in common stocks and depositary receipts of companies involved in the gold mining industry. Miners have lagged actual Gold prices (XAUUSD) potentially due to operational risks affected by COVID19. The chart now looks set-up for a move higher to catch up with gold spot price as it breaks out from consolidation. In times of an extended market and uncertainties, it's never a bad idea to hedge positions with exposure in gold to be well-prepared when the market turns.
AMEX:GDXLong
by TradingMavericks
The $GDX (Gold Miners ETF) is Found Strong SupportWeekly Chart : A very Clumsy Bullish Trend has started in 01/2016, and have been confirmed officially on the Penetration of the MDT (Major Down Trend) in 01/2019. Note the Retest of Both Major Down Trendline and Major Up Trendline which occured on 03/2020 (covid-19 Drop) - Looking Positive. Daily Chart : 31.3 Broke up with a gap and turn from Resistance level to a Support level. Backed up with Rise in Gold Price, i'm Looking for a Penetration of the last Minnor Down Trendline. The Take Profit objective is 40.25
AMEX:GDXLong
by Ido_Havazelet