ratiojunior miners at a low. bullish percent index bottomed so a good time to start nibbling for entries.
GDXJ trade ideas
GDXJ sharp move downI didn´t expect such weakness in the previous idea.
The move is being very intense, and it can continue in the same way
Before de month ends, GDXJ about 40,5$.
Then, there could be a move up to the 45$ before another push down to the 32$.
And all this could happen during the month of May.
Caution
GDXJ: Testing the watersAfter jumping down from its last high at the lower edge of the blue zone between $51.27 and $62.63, GDXJ has fallen below the mark at $36.58 to test the waters of the magenta zone between $37.26 and $24.77. We expect it to gather more downward pressure to advance deeper into the magenta zone, where it should finish wave ii in magenta. Then, the ETF should turn around and climb back above $36.58. From there, it should continue the ascent towards the resistance at $51.92. However, there is a 30% chance that GDXJ could break through the magenta zone and subsequently drop below the support at $19.52 instead.
$GDXJ to fall from here? $35 first, $20s next?GDXJ looks to be rejecting at resistance here which could setup a large move lower. I know everyone wants to be bullish gold, but both commodities and equities are starting to look weak here.
I think we're about to see a false breakout of the falling wedge and a break back below it down to $35 as the first target, and potentially the $20 range after that.
Green lines mark support levels. Let's see what happens over the coming weeks/months.
GDXJ Targeting 400% Gains over 2 yearsJunior gold miners should outperform Gold and rise over 400% over a period of 2ish years with 3k+ Gold in 2024
Massive Upside W/ VanEck Junior Gold Miners ETF (USA: $GDXJ)! 🏆VanEck Junior Gold Miners ETF (GDXJ®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the MVIS®Global Junior Gold Miners Index (MVGDXJTR), which is intended to track the overall performance of small-capitalization companies that are involved primarily in the mining for gold and/or silver.
GDXJ downNew cycle down in the sector: gold and miners.
This are my targets for the next two weeks.
The first two hight probability
The last one (40) could be reached,If not from this drop, from the next one.
GOLD ALSO DOWN
1920
1860
1820
targets
GDXJ Bull FlagGDXJ is showing some nice bullish divergence in the pennant of a bull flag on the 4hr and daily RSI. Upside is 30%+ and if it breaks down below the lows of the flag it'd be time to get out.
This is obviously dependent on what Gold spot price does. So, if XAU decides to finally use that hidden bullish divergence to head to all-time highs, then gold miners are gonna feast too. Playing the odds.
GDXJ ArkGDXJ just broke out and is looking to make a run up over the coming years.
Sell once it enters the box at the top of the ark.
Also bear in minersThere are big gaps open up and down from current price. But price is filling gaps down while being rejected by gaps upwards.
The sector is weak and I expect the downtrend to continue.
Mercury Rev
www.youtube.com
So holes..that is the key. Filling price holes
Target 28-30 for the last part of the year.
Arc in GDXJ / GDX ratio points to junior mining bullmarketIf you make a ratio of Gold Juniors to Gold Majors, you will find that there is an arc in the making since 2010.
It looks like we are about to enter the fun side of the arc, where juniors outperform majors.
This is historically often a sign of liquidity and luster returning to gold, in the form of rising gold prices, and risk securities outperforming.
Got Juniors?
Gold miners breakoutGold has risen over the last year due to the pandemic, inflation due to excessive money printing and now the conflict in Ukraine.
GDXJ - the junior gold miners have broken out of their down trend channel and has retested. Once the price of gold hold up there should be a lot of upside potential for gold miners. If they can control the cost of extraction then they will be able to enjoy a healthy spread on sales.
As always this is not investment advice and you should always practice good risk management.
GDXJ up!Think there is a high chance GDXJ could visit 50-52 in next next weeks with gold also rising to 1950$
Only with a weak gold and general market going down, GDXJ could move lower in the rest month (red target)
Has tested twice a strong support 37$ and rejected.
Think gold and GDXJ has legs.
Mean while some music I like.
www.youtube.com
Junior Goldminers -> Off to the racesLooks as if Junior Gold miners have finally broken the year long downtrend and still got catch up to play to current Gold valuations.
If Ukraine crisis continues to unfold for a few more days or weeks, I can't see this being just a fakeout.
LONG AND STRONG.
GDXJ CautionThings are not easy in markets. They lOok bullish at a time and one week late they are not so.
Caution.
They could drop hard again, with gold and with general markets.
At last 40 is target for next week.
After that...... lets see if there is another leg up with gold also rising to 20XX or not.
All markets are going back to precovid levels. And gold hasn't yet.
Time for the Juniors to Shine AgainHere we have an extremely similar setup to late 2015, right before the junior miners went on an epic tear. Note the divergence in the dynamic RSI oscillator, and how similar the action now is to 2015. The ratio also just broke out against the S&P.
Are you loaded up for this run??
$GDXJ looking pormising (3/5)Conviction: 3/5
May have a better entry point after more breakout from short-term channel (Aug 2020)
Main Thesis
Bouncing off MT support (2015)
Breakout and retest from previous downward resistance (2016) (Blue)
Risks
RSI-W may breakdown to more attractive levels
OR there may be another leg down for a bullish divergence
Explosive set up!Gold has been patiently consolidating for weeks. This balance area is reaching its maturity stage.
GDXJ Options Flow & Technical TradingIn this update we review the price action and options flow dynamics and identify the next high probability trading opportunity and the price objectives to target.
GET OUT OF GOLD MINERS!!!Very negative pattern and a bearish cross is forming. I think there's go to be a final flush back to pre covid levels along with the stock market. The whole stock market is going to get flush out IMO.
GDXJ The LONG caseWe are still at the early stages of a long term bull market
LONG now between 50 and 44 it's a good call long term and still get 200% and counting.
A drop in gold and the miners is still possible. Falling below 43 opens the doors below. Then a retest off the blue line makes sense.
LONG between 36 and 30.
Now if it falls further below it, be ready to empty your wallets and pick up at bargain price. It will rebound because we are in a long term bull market. These dips should be heavily bought. If it falls below 30 we are in luck, but short term pain.
The 200 weekly MA will be around 40
Weekly and daily MACD & RSI will be low.
Currently trading below 200 daily MA
GL & happy trading
