Following the recent trendline/wedge breakdowns on the 60-minute chart as well as yesterday’s bearish engulfing candlestick & uptrend line on the daily time frame, the next sell signal on GDX (gold miners ETF) will come on a break below S1 (74.60). 60-minute chart below.
GDX 60m Oct 10th
GLD (gold ETF) sell signal is still to come on a solid break and/or daily close below the uptrend line following yesterday’s bearish engulfing candle, while I’m also waiting to see a high-level bearish crossover on the PPO to help confirm the sell signal & near-term trend change. Ditto for SLV (silver ETF) Daily charts of both below.
GLD daily Oct 10th
SLV daily Oct 10th