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GDX trade ideas

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
GDX BullishGDX Daily Timeframe. -GDX has successfully closed above the falling wedge pattern which has been formed since 6th August 2020. Thus, this would be a potential continuation of its major bullish trend. -In smaller timeframe, both H4 & H1, GDX also formed a double bottom with the neckline in $35 price range. -Bullish divergence is clearly presented in daily timeframe (MACD). -The rising market uncertainty from Russia's invasion towards Ukraine affects investors and market makers to secure their money in safe haven assets such as gold and other commodities.' -Overall view : Bullish with the following resistance in $40, $42 & $45.8
AMEX:GDXLong
by maplethecorgi
GDX... Launched!The Gold miners ETF had a clear launch over the last two weeks, amidst the build up of the global events in Europe. The Weekly chart has a sustained double breakout of a short term trendline, and the weekly 55EMA. The technicals (MACD and RPM) are very supportive, crossing upwards and into bullish territory. The Daily chart shows the past two weeks developments, nothing short of being impressive and decisive. An immediate term resistance is seen, but am optimistic that the Gold miners have launched from the base low, at long last. As previously mentioned... Gold prices have since moved significantly to above 1900, and equites are on the rise. This are supportive of the GDX. Currently, a slightly stronger USD is disregarded and off set by the previous two. GDX has since moved up 10% and is slated for much for upside, way above 40 IMHO. Projections in a later following post...
AMEX:GDXLong
by Auguraltrader
2
GDX LONG, MASSIVE MONTHLY BULL FLAG = Target $58.40This is a MASSIVE Monthly BULL FLAG (Blue). After breaking down this massive trend channel GDX has recovered and is now breaking back into the huge UPTREND Price channel while MACD is remaining above ZERO. I realize the month is not over yet but when you are struggling to find places to put your money when the stock market is retracing this would be my next trade. Also with the Gold chart looking better each day and that GLD Trade I posted going so well this would be the place to add to that exposure with more upside potential. Long at OPEN tomorrow. Target = height of the flag pole putting us at $58.40
AMEX:GDXLong
by eganon69