Loading ...A little assist on a Gold/GDX chart from a fellow tenter?
From this article in mid 2019 I think it’s worth revisiting to see how the author’s hypothesis has held up.
06/06/2019 Trading the GDX Gold Ratio
I don’t have the tools available to me at the moment but if a fellow tenter could bring this chart current….. Thank you.
If You followed his advice and bought you got CRUSHED in the Covid Collapse soon after
This is a useless chart for a useless sector IMO
https://schrts.co/yBiaKqEn
Thank you very much FGC, note that it’s GDX to $GOLD, not GLD – in my opinion GLD is used in similar manner as SLV – basically a tool. Today I figure the ratio is .150 which isn’t that far off from the 2018 low. I’m not so bent on the 9 day EMA being a tell, as I am the idea that the major miners are overpriced – they are not IMO and like Silver, could easily gap-up at any time.
not useless, but clear abc correction last few bars, set to fall again.