A look at the near-term & intermediate-term outlook for GLD, GDX, SIL & various precious metal mining stocks, including updates on the GDX & HL active short trades. https://youtu.be/U3_jIYnyHv8
This video covers the Active Short Trade Ideas on Right Side Of The Chart, along with a brief highlight of today's breakdown of QQQ, including some objective levels for shorting the broad market.
The near-term & intermediate-term outlook for gold, silver & the mining sector via GLD, SLV & GDX including an update on the HL active trade.
GDX came within a mere 32 cents of the first target this morning before reversing while yesterday's potential divergences in GDX & SIL were confirmed today via a bullish crossover, induced by the US dollar rally which in turn was induced by the ISM miss. My expectation is that rally will be relatively short-lived with [...]
As a follow-up to the GDX update posted earlier today before the market opened, here's the updated chart of GDX along with the chart posted in earlier this morning. GDX did go on to breakdown below both the bearish pennant continuation pattern as well as the 26.50 minor support just below & has recent hit [...]
The following charts of GLD & GDX provide an update for the active trade on GDX, NUGT or DUST. Please log in or sign-up for your free 3-week trial to view.
GDX (gold miners ETF) appears to have formed a bear flag continuation pattern following the recent breakdown, backtest & sharp move below the ascending price channel that was highlighted on the 30-minute time frame on Monday (first chart below). Also note that my 14/34 ema trend indicator (histogram below these charts) has now moved to [...]