GDX Showing strengthWatch for move above box to go long. Price falls below box not trade.
Targets are dotted lines above box.
GDX trade ideas
GDX failed b/o this morningSold all weekly ones but still have 40% monthly on the table. May add here in a next one or two hours.
IS GDX showing showing top .. sell target 31 to 32 stop loss 35IS GDX showing showing top .. sell target 31 to 32 stop loss 35... I can clearly see a top... May be time ripe for major fall.. I would love to be wrong.. hence strict stop loss ..But charts indicating first target of 32...
Please plan to keep 1% stop loss to save you against any surprises..
$GDX Gold Miners Bull Flag
Caution entering the market
50ma strong support
bull flag break imminent
MACD reversal
Histogram Ticking higher
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GDX - nice break out6/10/20
1 hour chart
Nice break out - Proving everything is on track, I will be looking to close around $41
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.
BUY GDX at $30-31GDX is in correction following H&S pattern. Support is around $31. Expect a fake breakout to the downside. Wait for RSI to reach new lows and MACD indicator to cross to enter new positions.
Potential bottom @ $31-32 before continuation of bullish trendIf move resembles earlier setup in bull trend, expect near term bottom around $31-32.
GDX short as shown in the chart we have h&s pattern, tomorrow if break the Nike line we see a big drop in the gold.
enjoy
Gold miners measured move price target achieved!Gold miners measured move price target achieved! Short position with risk defined accordingly.
Great time to get back on the gold mine trainJump in because it crossed the 20 today. With any luck it will ride the 9 and the 9 will continue to pull away from the 20.
Buying GDX calls in May.If price returns to March's high, then I'll begin looking to purchase call options as close to 29.50 or 30.00 strikes as possible. These calls with have an expiration of June 1.
🚀Will Q2 earnings give the GDX the fuel to rocket?Gold mining stocks have a reputation on promising to deliver big but failing (see 2009-2011).
I’ve been following the GDX since 2016 when I first started buying gold miners, and up until 2020, nothing really happened.
The miners were in a bear market for 8 years and could not breach the $30 resistance, until April 2020.
Does this signal the start of a new bull market, or will the gods have their way and bring us hodlers back to reality?
To get this party started, we will need the GDX to clear $37 decisively, we did hit that area in May but sharply pulled back to the $32 area.
Until we break the $37, we could expect to range between $37-$30.
What will cause the GDX to move higher?
The only thing we can expect to move the GDX higher is the price of gold. if gold can stay above $1700, and oil prices maintain their current price levels for a few more months, the fundamentals for gold miners will look even better.
Oil is a major cost of production for miners, so cheap oil means more profits!
It will be interesting to see their Q2 earnings, if they can impress with earnings when most other sectors are going to show slow growth, that could build buying momentum and attract new money.
If gold prices break to the downside, that will most likely send GDX below $30 and result in a fake-out to what we are seeing.
Looking at the RSI, we can see that momentum is building and even touched the oversold. To me this is a good indicator of a new bull market forming, but I'd like another confirmation in breaking the $37 price.
I don’t see fresh money coming into this sector as we do with Tech stocks, retail investors want to hold stocks that are sexy and gold miners aren’t that.
For that reason, we will need to rely on gold staying above $1,700, good earnings in Q2 and cheap oil.
I have posted my macro views on gold, Bitcoin and the S&P500 this month, please take a look at my trading ideas and give me a follow. My goal is to provide macro views on marketing taking into consideration market news, not solely relying on TA.
Support at 33.54? Part 2The more I think about it... The more I'm feeling good about the UP trend. That, of course, makes me nervous.
