Wealth Creation Through Natural Resources
The gold miners (GDX) have been on a mission – in the last 5 trading sessions the GDX has gained nearly 17%! The target from Friday’s bull flag breakout ($23) has almost been achieved and the question now becomes, what’s … Continued
After a multi-week digestion within a ~10% range the gold miners (GDX) broke out on Friday: GDX (Daily) Breakout above $21 targets measured move to $23. While the breakout is impressive in and of itself in terms of … Continued
The gold miners (GDX) have been essentially range-bound within a ~10% trading range for the last six weeks, however, that might be about to change: GDX (Daily) After coiling within a pennant pattern for the last couple of weeks … Continued
The gold miners took a beating today as gold tumbled nearly $30/ounce. The GDX has been bumping its head up against resistance ($21) for a couple of weeks as bearish divergences accumulated; with today’s heavy volume ‘gap & go’ 7.53% … Continued
We have not kept it a secret in recent days that we have turned short term bearish on gold and gold miners. Today the gold miners as represented by the GDX sold off 4.3% and there are mounting signs of professional … Continued
The gold miners have bumped their head up against resistance for 3 consecutive trading sessions and today’s large bearish engulfing candlestick may signal that a correction is underway for the best performing equity sector of 2016: GDX (Daily) The … Continued
The price action in gold has been undeniably impressive; a massive advance to begin the year, followed by a consolidation (multi-week pennant), and then a powerful breakout above $1250 last week targeting a move above $1300: Gold (Daily) With … Continued
The gold miners as represented by GDX are on the verge of achieving a 70% gain since the all-time low at $12.40 which was printed barely more than 6 weeks ago: GDX (Daily) There are a few notable observations … Continued
While GDX is on the verge of experiencing a ‘golden cross’ (50-day SMA crossing above 200-day SMA) today’s large bodied bearish engulfing candlestick combined with a bearish MACD cross offers a distinctly bearish flavor: GDX (Daily) Both the bearish … Continued
Everyone has been watching the pennant pattern in gold this week and today it appeared that gold was breaking out to the upside and headed to ~$1300: Gold (Daily) The key word is “appeared”. After trading as high as … Continued