Wealth Creation Through Natural Resources
Some stats about the current rally in the gold miners (GDX): +37.50% in 13 trading sessions GDX has gone from 3 sessions dipping below the lower 2-std. deviation Bollinger Band (January 19-21) to 3 consecutive closes above the upper 2-std. … Continued
One month into the new year the gold miners (GDX) are the 2nd best performing equity sector of 2016 (utilities are the top performing sector) with a 3.6% gain. However, considerably more impressive is the 18.15% rally in the two … Continued
Since the December 2013 low in the gold miners the $19-$21 support/resistance level has been by far the most heavily traded price zone in the GDX: I continue to believe that the gold mining sector is on the verge of … Continued
It was a brutal day for the gold mining sector with a 3.61% loss and a close at session lows: Today’s candlestick is called a ‘bearish marubozu‘ due to the large full body with an absence of shadows on … Continued
GDX is up nearly 6% this week. Is this rally for real? From all indications the answer is a resounding YES! Here’s why: The chart pattern breakout from the multi-week ascending triangle is the real deal and targets a move … Continued
On Tuesday we highlighted a powerful long trade setup in the GDX and yesterday the goldies rallied 5.32%. This morning we are seeing a little profit taking ahead of a big resistance level near $20: From my vantage point the … Continued
Gold miners as represented by the GDX are threatening to fall for the 6th consecutive trading session after they were once again repelled near the $20 support/resistance level: A fun fact is that even during the gold mining bear … Continued
Less than 10 days ago the gold miners were being pushed to the brink of collapse as gold waffled in the mid $1100s. This morning after an impressive rally to finish last week the gold miners are back to being … Continued
The gold miners as represented by the GDX have been pushed to the breaking point with yet another ‘bear flag’ forming just a few percent above crucial long-term support: To put the situation into perspective, GDX is barely more … Continued