Loading ...GDXJGR 2 Hour
MACD is showing bearish divergence with price, albeit mildly:
If, and it’s a big if, GDXJGR were to turn down from here it could form a head and shoulders pattern:
What’s interesting to me is the H&S target of approximately 0.26 is very close to the first Fib retracement level on GDXJGR’s daily chart:
that would be nice… for a reload. sell below the neckline and reload at the Fib.
However, the bull is not that accommodating just yet.
Agreed, time will tell.
I have a possible cup & handle pattern for gold which targets ~ $1360 but price would have to drop back from here to form the handle.
Why do you call this GDXJGR ?
Its a GDXJ:GLD Ratio Chart
I’m using GLD as a proxy for gold because Stockcharts only provides end of data for gold.
GDXJGLDR chart would be more accurate though.