GDX Daily EOD…
RSI 5 trend line intact…
Stoch 5 continues up…
Slope 20 has turned up…
MACD BULL cross…
50 SMA provided resistance earlier; however, momentum is increasing, thus, the next attempt should breach…
In summation, this still looks bullish…
GDX 30 Minute…
Still looks bullish…could break out of flag Monday AM…
GDXJ Daily…
Price action needs to get above the 50 SMA…
Stoch 5 is trending up…
MACD has BULL crossed…
Slope 20 is heading straight up…
Only item of concern is a possible mini bear flag formation occurring below the 50 SMA; however, this should not occur with the indicators pointing up and WITHOUT a negative divergence to warn of waning momentum…So, this potential BEAR flag could not materialize…
Gold holding steady is a plus for the BULLS; volatile behavior is just the nature of the beast for GDXJ…Algo’s talking…
Still need the 13/34 BULL EMA cross for confirmation…
GDXJ 30 minute appears to be flagging similar to the GDX 30 minute chart I posted…
Trading this can be most difficult–buying EOD on the 30 minute chart (waiting for flag formation) and selling the pop the next waiting for another BULL flag to form can be the best strategy.
The TRIX on the NUGT 15 minute still needs to BULL cross for confirmation on the 15 minute chart…
I confess, went long a small position last minutes of today…Might live to regret that decision? Patience is a virtue…Be patient. Links to my charts are under the right toolbar…Good luck PK.
NOTE THE SLOPE 20 TREND LINE–THIS MUST BREACH FOR THE BULLS
Thanks, Eagle, for your analysis.
Thanks Eagle. Like your charts.
Thanks Eagle. Your constant updates and views are always appreciated. What is your view on gdxj? I benefited from the recent rise but I am skeptical about this rally again. Gold went up 30 plus points on wed and it has held its gains but yet gdxj has retraced over 50% in 2 days. would love to see you analysis…
+1. Thanks Eagle.
Only bulls left plus avi and graddhy
Never see. The posts so negative in general