Loading ...GDX – Daily, Weekly
Maybe this works…
GDX retreats to the weekly support line (near the 200 DMA) and fills the gap at 20.75.
GDX Daily
So a BT to the weekly support line at 20.75 coincides with a BT from above to the black upper rail. Double support.
GDX Weekly
that’s minimum po in my book but it’s rarely ever that easy it seems.
… it’s rarely ever that easy it seems.
You are right, Sir Schism. It never is.
This is looking like the case … Interestingly, Sid Norris with his Elliot wave/Hurst cycle analysis has GDX targeting ~$19.50 in late May before powering higher into late Aug. He also has silver going down a bit until late Apr and then targeting $26/oz by Dec.
Although short-term pullbacks are in the cards … there are still way too many good analysts being bearish general equities past this summer and super bullish in the mid-to-long runs for gold/silver/miners not to think this isn’t eventually going to run its course much higher. I’ll remain optimistic it all unfolds in time! We need to remain patient.
I meant $26/oz silver by Dec 2020. His main gold count is for it to well surpass $2,000 up through Nov 2025.