Technical analysis & swing trade updates on GDX, the largest gold & silver mining stocks, US Dollar, & Euro.

YouTube link: https://youtu.be/dr5TSsy27KY

Video Overview: Randy Phinney from Right Side of the Chart provides a mid-session update covering the gold mining sector (GDX) and individual precious metals mining stocks, explaining why he opted to book full profits on the GDX swing trade around target levels. He analyzes technical structures, moving averages, price targets, and macro drivers including the US Dollar Index ($USD) and Euro currency pair (EUR/USD).

Key Topics & Securities Covered

  • 00:00 – Introduction & GDX Swing Trade Update (VanEck Gold Miners ETF – GDX): Randy discusses closing out the GDX long trade at Target 3 (T3) for a quick 23%+ profit. Although GDX broke out above its daily falling wedge downtrend line, he chose to book profits rather than hold through potential counter-trend pullbacks due to macroeconomic resistance levels.
  • 09:00 – Newmont Corporation (NEM): Major holding in GDX. NEM surged ~27% off its $89 divergent low. It is currently at a primary daily downtrend line and overhead price resistance, presenting a key profit-taking zone (10/10 level).
  • 12:14 – Agnico Eagle Mines (AEM): Reversed off the recent lows and bounced back to former support, now resistance level & 200-day SMA. Currently trading in an intermediate-term downtrend, making current gains counter-trend rallies until & unless evidence of a new intermediate-term uptrend and new highs begin to emerge.
  • 14:53 – Wheaton Precious Metals (WPM): Bounced off oversold levels but approaching overhead trendline and price resistance; overbought on short-term indicators.
  • 16:09 – Franco-Nevada (FNV) & Barrick Gold (GOLD): Quick review of major miner holdings approaching key resistance and 200-day moving averages.
  • 17:48 – Kinross Gold Corp (KGC): Testing a confluence of resistance consisting of its daily downtrend line, horizontal price resistance, and a back-test of its primary bull market uptrend line. Target upside confluence around $28-$30 range.
  • 18:29 – Pan American Silver (PAAS) & Royal Gold (RGLD): Testing horizontal resistance zones following counter-trend rallies off divergent lows.
  • 18:52 – Coeur Mining (CDE) & Alamos Gold (AGI): AGI showing a history of divergent highs leading to market corrections. Highlighting the strategy of trading counter-trend bounces in bear regimes vs. shorting divergent highs in bull regimes.
  • 22:16 – Hecla Mining (HL): Broke out of a bullish falling wedge with a divergent low. PPO indicator signal line (9 EMA) back-testing resistance; watching for a potential rejection or momentum crossover.
  • 23:25 – IAMGOLD (IAG), First Majestic Silver (AG), Equinox Gold (EQX): Rapid chart scan showing price/downtrend resistance tests across silver and gold equities.
  • 23:57 – Eldorado Gold (EGO), Oceanagold (OGC), B2Gold (BTG): EGO at $38.15 key price resistance; BTG popped directly into $5.11 multi-year horizontal resistance zone.
  • 25:00 – AngloGold Ashanti (AU), Centerra Gold (CGAU), Skeena Resources (SKE): AU at trendline resistance; CGAU forming potential divergent high.
  • 25:19 – US Dollar Index ($USD): The dollar index has pulled back to major trendline support off early-year lows (~99.00 support level) with PPO back-testing the zero line. A bounce in $USD presents a technical headwind for gold and miners.
  • 26:26 – Euro / US Dollar Currency Pair (EUR/USD): EUR/USD accounts for ~57.6% of $USD weighting. EUR/USD hit major overhead horizontal resistance, increasing odds of a pullback in EUR (and corresponding bounce in $USD).
  • 27:38 – Conclusion & Market Sector Rotation Notes: Wrap-up of gold miner sector; preview of upcoming analysis on the financial sector as the second-largest weighting in the S&P 500.

Ticker Symbols Discussed

GDX, NEM, AEM, WPM, FNV, GOLD, KGC, PAAS, RGLD, CDE, AGI, HL, IAG, AG, EQX, EGO, OCG, OR, SSRM, BTG, AUGO, AU, CGAU, SKE, EUR/USD, $USD