Loading ...GDX Daily
Just the Facts mam .
Fact 1…broke down from a H and S Top
Fact 2…bounced of 2017 supporting up trendline
Fact 3…broke out of the gold wedge and bounced exactly at the backtest point
Fact 4…up against September down trendline
Fact 5…if it can break thru the black and red lines above…goldbugs will be smiling
Fact 6…if it breaks below the bottom red line…goldbugs will be crying ( yet again)
Fact 7…Mr Market is a devious SOB but he loves symmetry…GDX could rise to the dotted shoulder line then fall…creating a larger H and S Top
Fact 8…Fully’s a Party Pooper
I am out of NUGT 🙂
Was it something I said ?
No :-)…A pic is worth a thousand words–13/34 EMA BULL cross, watching moving averages…
IF that upper trend line is breached, GDX is going for the gap quick…Then I will get back in
Good trade Eagle
Price/Macd bearish divergence on SLV’s 30 min. Given the correlation between SLV & the miners, highly likely for some pullback here. I’m looking for price to effectively backtest the neckline of the H&S.
Other than that, genuinely excellent analysis Fully and I entirely agree.
Not the Party Pooper thing though, I don’t give a rat’s ass which way the miners move, up or down is good for me.