US Dollar Index
GLD (Gold ETF) went on to break down below the 60-minute bearish rising wedge pattern posted yesterday with UUP (U.S. Dollar ETN) also breaking out above the bullish descending price channel. Hard to say where this pullback would end but I favor the reversal to come anywhere from the top to the bottom of the [...]
UUP (US Dollar Index ETN) is moving higher after a second consecutive divergent low on this 60-minute time frame & appears quite likely to hit any or all of the resistance levels in this shaded area. If so, that will continue to put downward pressure on gold in the near-term. UUP 60-min May 8th [...]
Analysis of gold, GDX (gold mining ETF) and the US Dollar including both the near-term & longer-term outlook. Potential buy points & key support & resistance level are also highlighted.
Technical analysis of gold, the precious metal mining stocks & the US Dollar via GLD, GDX & UUP. Both the near-term & longer-term outlook for gold, GDX & the US Dollar are outlined. @ww0987
I've clearly stated my expectation for a correction in the semis recently & just wanted to share some thoughts on how to position for a correction in the semis, for those that share my outlook for the sector. In doing so, I also wanted to address the advantages & disadvantages of trading leverage ETFs in [...]
I'm still leaning towards more downside in gold & the mining stocks although my conviction still isn't very strong as as such, GDX is not an official trade idea at this time. A break & close below this secondary uptrend line on this 60-minute chart of GDX in conjunction with a break below the comparable [...]
The near-term outlook for the US stock market via SPY, QQQ & IWM followed by analysis on GLD, GDX, UUP & several trade ideas including GILD, CARA & SMH.