This video covers the near-term & intermediate-term outlook for GDX (gold miner ETF), GLD (gold ETF), the US Dollar & the Euro, including some entry points & price targets for a swing trade in GDX. Gold & Silver level access required.
A review of the chart of GLD, SLV, SIL & GDX as they all approach key support levels with bullish developments on the chart that indicate a bottom may be close at hand. My preferred strategy of scaling into exposure in the gold & silver mining sector, along with the buy ranges, stop levels & some potential price targets are covered. Please log in to view this video as it is currently reversed for RSOTC subscribers. [...]
This video starts with a brief overview of the charts of gold & silver (via GLD & SLV) followed by a discussion focused primarily on the near-term outlook for the gold & silver mining sector via the charts of GDX & a few of the leading gold & silver mining companies in the following order; ABX, NEM, GG, AEM & SLW, wrapping up with some final comments & technical levels to watch for on GDX.
This video covers the near-term outlook for GLD, SLV, SIL & GDX with a look at the support & resistance levels, price targets & most likely scenario for the gold & silver mining sector going forward. (note: you may have to manually set the playback quality to 720p if watching this video shortly after being publish or if "HD" does not appear on the settings cog at the bottom of the screen).
This video begins with a discussion on the both the near & long-term outlook for the US Dollar, where the case is made for a near-term bounce followed by a longer-term decline in the Greenback (which would be near-term bearish & longer-term bullish for precious metals & the miners), followed by an overview of GLD, GDX, $HUI, several of the top components in GDX & wraps up with an overview of the recent developments & outlook for SLV (silver ETF).
In the comment section below a post made earlier today, I was asked if I would consider going long the miners, should they break above the recent "high & tight flag/pennant" that appears to be forming in GDX. My answer was no (along with a brief explanation which can be viewed under that previous post) and this video covers in more detail as to why I still believe the R/R for going long the miners at this time is unfavorable. The video focuses on the long-term (1o-year weekly) charts of GLD, GDX and the 3 largest components of GDX which account [...]
Part of the reasoning for the DUST long/GDX short posted earlier is the fact that the three largest components of GDX; GG, NEM & ABX, which cumulatively account for about a 20% weighting, have all made nearly vertical & over-extended runs into key resistance level on the daily time frame. As the initial tag of resistance levels from below often produce a reaction, I believe the odds for a pullback in the gold mining sector is extremely elevated at this time. Notes on the DUST long/GDX short trade can be found in the previous post. Please note: As this [...]