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VanEck Gold Miners ETF

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GDX trade ideas

GDX: Gold Miners Geopolitical HedgeThe multi year cup and handle provides good upside catalyst to hedge further geo-political risk. I don't think the Russia/Ukraine war is going to be resolved anytime soon. GDX is preferred over GLD here because GDX will have positive carry (from cash flows of the miners) and the spot price is high enough to warrant some production. This is a good place to start to build a small position; what I are looking for here is a stronger volume signature as confirmation; but because of the way gold trades (meaning something adverse happens) I would expect the rip up to be very violent and aggressive so it merits building a position now and slowly buying dips. MACD has crossed recently giving us some small confirmation of bullish price action.
AMEX:GDXLong
by quantitativetendies
GDX: Out of the BlueThis is GDX’s motto only literally because its descent from the blue zone between $43.86 and $39.30 was far from unexpected and indeed completely in accordance with our primary scenario. After completing wave (b) in blue in the blue zone, GDX has established itself on its way downwards, and we expect it to continue this trend into the magenta zone between $27.49 and $19.52 below the support at $28.83. There, GDX should finish wave (c) in blue and wave ii in magenta before rising above the resistance at $40.13. There is a 30% chance, though, that GDX could break through the bottom of the magenta zone and drop below the support at $16.18.
AMEX:GDX
by MarketIntel
GDX still in a uptrendTechnically, the broad PMs sector still look very bullish on the longer run, with the next support on the weekly MA50 and on the falling wedge VPVR, with the next target around 46$. We might find bottom and get ready for a rebound to the previous top in the early summertime. It will coincide with the LME trading desk stopping its activities in junes (like spoofing the PMs?) and around the same time the DXY might be reaching its previous resistance. Short time pain, thats about it...
AMEX:GDXLong
by oryx80
Elliott Wave View: GDX Pullback In ProgressShort term Elliott Wave view in GDX suggests cycle from October 2021 low ended in wave ((1)) at 41.61 as an impulse Elliott Wave structure. Pullback in wave ((2)) is currently in progress with internal subdivision as a zigzag (A)-(B)-(C). The ETF is currently within wave (A) of ((2)) with internal subdivision as a 5 waves. Down from wave ((1)), wave ((i)) ended at 40.8 and rally in wave ((ii)) ended at 41.06. The ETF then extends lower in wave ((iii)) towards 39.31, rally in wave ((iv)) ended at 39.87. Final leg lower wave ((v)) ended at 39.25 which completed wave 1 of (A) in higher degree. Wave 2 bounce is now in progress to correct the decline from April 18 peak before the ETF resumes lower. Internal subdivision of wave 2 is unfolding as a zigzag structure where wave ((a)) of 2 is expected to end soon. GDX should then pullback in wave ((b)) before another leg higher to end wave ((c)) of 2. Afterwards, it should resume lower in wave 3 to continue the correction to the cycle from October 2021 low. Near term, as far as pivot at 41.61 high remains intact, expect rally to fail in the sequence of 3, 7, or 11 swing for further downside.
AMEX:GDX
by Elliottwave-Forecast
GDX continues rallyingTwo weeks ago, a break above 40 was expected , and it just closed the week above 40, in good fashion if I may say so. The weekly GDX chart followed the previous week's long tailed doji and gapped up, ending near the week's high, with yet another lower tail. Bullish candlestick structure here. Technical RPM indicator is supportive of the momentum, although the MACD expects more. The daily GDX chart is consistent with a continuing uptrend rally, with higher highs and higher lows. Technically supportive, both the RPM and MACD are crossed up and trending bullishly. 47.50 upside target in sight as projected previously.
AMEX:GDXLong
by Auguraltrader
4
Gold miners ETF (GDX) taking off again!The Gold Miners ETF, GDX, as expected, launched itself after a small recoil. The Weekly chart key takeaway is that the MACD and RPM followed through, but better yet, this week saw the weekly candlestick to be in a rather bullish position, closing the week on a recent 9-month high. Fibonacci projections bring a 47.50 upside target in the following weeks. The Daily chart confirms the bullish indications similarly. Having bounced off an intermediate support, the technicals are turning bullish again as the strong close for the last day of the week encourages a breakout above 40.
AMEX:GDXLong
by Auguraltrader
7
GDX: Room for MoreFor GDX, there is still room for more upwards movement! As the ETF has only touched the blue zone between $39.30 and $43.86 so far, we expect it to go for it again and more firmly this time, crossing even the resistance at $40.13. After it has finished wave (b) in blue in the blue zone, GDX should rattle down through the support at $28.83 and into the magenta zone between $27.49 and $19.52, where it should complete wave (c) in blue as well as wave ii in magenta. Then, GDX should turn around and move upwards, heading for new highs above the resistance at $40.13. However, there is still a 30% chance that the price might not rise from the magenta zone but could fall through it and below the support at $16.18 instead.
AMEX:GDX
by MarketIntel
1
GDX LOOKING FOR A MOVE UPWARDSAs the title indicates, I'm looking for another decent-sized move in precious metals. The war in Ukraine, bitcoin gaining support from more and more regulators, climate change/green energy initiative and the oil crisis (if there is one) are all serious things that could put a lot of pressure on the U.S. dollar. I like gold better than cryptocurrencies that are likely to be very volatile and uncertain. Gold has been around for thousands of years for a reason. A sharp rise in gold prices are to be expected, but when have we ever witnessed gold losing 30% overnight? The answer is never. Seeing a return from an investment in gold is all about timing. Obviously you don't want to be invested to heavily in gold when the equities are performing real well. On the other hand, when the market is uncertain it's good place to go. GDXJ, GLD.. my bullish stance is on the metals market, silver and fuel metals like uranium and lithium, of course NICKEL!!!! Palladium seems to be doing well also. Good Luck!
AMEX:GDXLong
by DontSlamTheDoor
3