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GDX trade ideas

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
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.
AMEX:GDXLong
by DanjaZown