I think those are short-term T-Bills though

“Depending on your trading plan, consider booking partial or full profits and/or lowering stops if holding out for T2.”

That first part means that some traders (assuming they even shorted GDX) might have only been looking for a relatively minor pullback & were planning to book full profits on or around T1. Maybe someone that shorted it thinks it is ultimately headed to T2 or beyond but wants to game a bounce off the initial tag of T1 (support) by covering their short & going long there and then selling that long & re-shorting after the bounce.

The ‘consider booking partial or full….” part means that some traders like to take a long or short trade & then close out the entire position when their sole profit target is hit while other traders or investors like to use multiple price targets, maybe booking profits on half the position at their first target, lowering stops on the remaining half to protect profits while letting the other half ride for potentially larger gains.

I would suggest reading the FAQ question: “Why do some trades list multiple targets” here in the FAQ section under the Trading Related Questions tab: https://rightsideofthechart.com/frequently-asked-questions/

You are saying to book profits or lower stops on GDX, yet you are short term bearish on the Euro (saying it could be heading down to the 1.04738ish price level or the 10/13 and 11/4 lows.) Wouldn’t that mean gold should have a ways to go down if it generally follows the Euro ?

We checked holdings of DBA the other day. It holds a lot (like really a lot) of government bonds. It’s part of their strategy. But it could mask what’s really going on in commodities.

Up to you. I own some in my longer-term accounts for both diversification as well as constructive charts, particularly the ag commodities such as DBA (diversified ag commodity ETF) as well select individual commodities such as wheat & coffee. Crude & nat gas have been dragging the broader-based commodity indexes & ETFs down the most recently with USO testing the primary uptrend line support right now.

Yes, the uptrend line off the Sept lows on EUR/USD. That TL should touch the 10/13 & 11/4 lows. It also comes in around the 1.04738ish price resistance with the primary downtrend line just below that (both of which are also potential targets but all come in roughly together).

i sold mine… but even more important at least imho
the dollar is at resistance 50 dma as well as the UUP which tracks
the dollar.. gold may be ready to move back up or at least stabilize
at this area