Wealth Creation Through Natural Resources
After a rough three weeks in which the gold miners shed ~20% of their value there are some green shoots that sprouted this week which offer some reason for optimism. The $20 level on GDX has represented major support/resistance for the last … Continued
The bear flag interpretation of the recent move up in the gold miners has turned out to be correct with the falling 50-day moving average proving to be an excellent spot to sell earlier in the week: GDX (Daily) The breakdown has … Continued
The gold miners as represented by the GDX continue to consolidate within a relatively narrow range just below the largest volume-by-price bar of the year: GDX (Daily) The correction of the last couple of months against the backdrop of … Continued
The gold mining sector as represented by the GDX has been working on a bottom for the last couple of weeks and there are some subtle, yet constructive signs that a larger rally may be close at hand: GDX (Daily) … Continued
One month ago Bob Moriarty, Founder & Editor of 321gold, stated in no uncertain terms that we were in for a deeper correction in the precious metals space before we would reach a monumental buying opportunity. We ended up with … Continued
Gold is down ~$30/oz and the gold miners as represented by the GDX are taking a beating to the tune of nearly 7%. Investors are beginning to ask themselves some important questions such as, where is the next area of … Continued
Gold mining shares are soaring today after the Federal Reserve voted to keep rates unchanged. Both GDX and GDXJ rose more than 7% at the time of writing and GDX ended the session right at the gap fill level from September 8th … Continued
This afternoon’s CFTC Commitment of Traders report reveals that last Friday’s disappointing U.S. employment report led to a surge in net length by large speculators (CTAs, hedge funds, etc.) in gold futures: There are a few aspects of this … Continued
“I believe that this will be the last time to get on board the train.” – Bob Moriarty For someone who professes to absolutely not be a market timer, Bob Moriarty has some pretty good timing when it comes … Continued
Simple is usually more effective. The following line chart of GDX simplifies things and highlights the important stuff (trend and relative strength): GDX (Daily) Important observations from this chart: Trend is clear, from the lower left to the upper … Continued