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.
I've received several inquires for updates on GDX & the gold mining sector recently, including a request for an update on GDX & SLW from member @consultlee in the trading room today. My thoughts on each are below (weekly charts) but I also wanted to pass along the fact that my commentary and analysis for a particular index, sector, stock, commodity, etc.. will ebb & flow depending on whether or not I see anything compelling in the charts. The gold mining sector is one of those sectors where I just don't see anything compelling in the charts right now, [...]
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).
The following Long Trade Ideas have either exceeded their lowest suggested stop level or no longer look compelling from an R/R perspective. These trades will be moved to the Completed Trades category where all associated posts will be archived indefinitely for future reference. JO: Exceeded the lowest suggested stop of 20.00 on the Aug 24th meltdown. note: JO (coffee ETF) still appears to be setting up for a rally and/or potential bottom. As such, JO may be added back as a new Long Trade idea and possibly a Long-Term Trade idea soon. GDX: GDX (or a NUGT long/DUST short alternative) was [...]
Gold, silver & the mining stocks are at or near key resistance levels. Should both the metals & the miners make a solid & sustained break above resistance, that would bode very well for the longer-term outlook for the precious metals & mining sector. However, with the miners & metals at or near major resistance, the chances of a near-term pullback are elevated at this time. This video start with a quick overview of GLD (gold ETF), SLV (silver ETF) and GDX (gold miners ETF), followed by a look at the charts of the top components of GDX including several trading [...]
This video covers GDX (gold miners etf) and some of the largest components of GDX that look to be at or near key long-term support levels with potentially bullish technical developments. As such, although gold & the mining stocks are still in a confirmed downtrend, the stocks covered in the video look to offer objective entries for longer-term traders & investors. With the mining sector yet to show any technical evidence of a bottom, these stocks are not yet official trade ideas at this time. Static charts on some or all of these trade ideas will follow soon and should we [...]