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Goldminers

Elliott Wave View: Gold Miners (GDX) Ready to Resume HigherGDX 45 minutes chart below shows that the stock has ended the cycle from June 5 low as wave (3). The rally ended at 45.78 high. From there, the stock did a pullback in wave (4), which unfolded as a zigzag Elliott Wave Structure. Down from August 5 high, wave A ended at 42.25 low. The bounce in wave B ended at 44.18 high. Afterwards, the stock resumed lower in wave C, which ended at 38.82 low. This ended wave (4) in larger degree. Afterwards, the stock has resumed higher from wave (4) low. Up from that low, the stock ended wave ((i)) at 40.69 high. Wave ((ii)) pullback ended at 39.05 low. Currently wave ((iii)) is in progress, where wave (i) of ((iii)) ended at 41.03 high and wave (ii) ended at 39.72 low. As long as pivot at 38.82 low stays intact, the dips in 3,7 or 11 swings is expected to find support for more upside. However, the stock still needs to break above wave (3) high at 45.78 to confirm that wave (4) is already in place and the next leg higher in wave (5) has started. Otherwise, the stock can still do a double correction in wave (4).
AMEX:GDX
by Elliottwave-Forecast
Gold Continues To Set New HighsGold price ended July at $1,974/oz which made last month the highest that gold has ever closed on a monthly basis-beating the previous high set back in August of 2011 of $1,823/oz. July also saw price make a new all-time high of $1,984/oz which beat Septemeber 2011's $1,920/oz. So far August 2020 has set a new all-time high of $2,030/oz which was made today with price currenty holding near that level. The current monthly candle is yellow which indicates that there is bullish momentum volatility behind price, or extreme trader optimism. May, June and July were all yellow candles as well which shows that there has been extreme optimism in the gold market for the past four months. The Relative Strength Index(RSI) shows the green RSI line rising above the purple signal line which indicates short-term bullish momentum behind price. Both lines are above the 50 level which is the midpoint of the total RSI range. In general, when the green RSI line is trending above the 50 level it indicates bullish momentum in the intermediate-term while an RSI reading below 50 would indicates bearish momentum in the intermediate-term. Overall, the monthly RSI for gold is bullish since we have the green RSI line trending above the purple signal line, both lines rising, and both lines are above the 50 level. The Price Percent Oscillator(PPO) shows the green PPO line rising above the purple signal line which indicates short-term bullish momentum behind price. Both lines are above the 0 level which indicates that there is bullish momentum in the intermediate-term for price as well. In general, when both the green PPO line and purple signal line are trending above the 0 level it is considere a bullish momentum indication for price, and vice versa when both lines are declining below 0. The Average Directional Index(ADX) shows the green directional line trending above the purple directional line which indicates that there is a short-term bullish trend behind price. The histogram in the background is green and rising which indicates that the short-term bullish trend in price is increasing in strength. In general during an uptrend in price, you want to see the green direcitonal line above the purple direcitonal line and for the histogram to be rising as it is now. Overall, the view on gold price remain bullish with the expectation that gold and gold-related stocks will continue pushing higher this year, as well as silver and silver-related stocks. Current holdings are: GDX, GDXJ, GPL, CDE, HL, KGC, EXK, NGD, MUX, AG and physical silver since I expect silver to continue to outperform gold during this rally.
FX_IDC:XAUUSDLong
by PrepForProfit
12
Looking for the Gold (Miner) Rush To Lose Some LusterThe yellow metal has been on a ripper the last month gapping higher following our last several sell signals. Could the third time be the charm? The profile shows significant volume at many levels below but we're sticking with our system and expressing the 30m Extreme Turn sell using a put debit spread in Aug. GDXJ AUG21 45/50 put vertical for a 0.89db. Risk is 60% of the premium. This means we close the position if it trades below .40 Target is 50% of the max gain. This means we look for a mark of $2 or higher.
AMEX:GDXJShort
by TDGonTView
Lundin Gold INC to test 89 SEK resistance in 2020?Supported by higher gold prices I am beginning to believe that Lundin Gold Inc (LUG) will retest the resistance at 89 SEK within 2020. A new trend seems to be forming based on the June low and recent July low. I am placing my stop loss below the June low at 73 SEK. This is well below the new trend, leaving plenty of room for price variation. Lundin gold, being a gold producer is obviously highly correlated with the price of gold. Initial price target is 89 SEK but subject to revision should the price of gold stabilize itself above 1800 USD per ounce.
OMXSTO:LUGLong
by UnknownUnicorn3806802
GDX Clearly broken out - Targeting 46As shown in the daily GDX chart, the turquoise trend lines mark the support resistance trend lines, as well as show a standard flag pattern. Previous upside target in 2019 was 36, it now is upgraded to 46, based on chart pattern and Fibonacci projections. Recent price action saw a gap above the trend line resistance, and consolidation before yet another gap up (over a minor parallel trend line resistance). Also observed that MACD is supportive with a break up cross into the bullish territory, and a break above the MACD trend line at about the same time. Bullish, target 46, around mid-August 2020.
AMEX:GDXLong
by Auguraltrader
Fosterville South Exploration - A +450% IPO in less than 30 daysWhat an IPO, what a run! The tight share structure of the company (25% of the company is owned by the Management and founders) sent the stock to $4.6 today. After the incredible Kirkland Lake story, the Fosterville region is more than ever keeping its reputation of creating lots of money. What about value? Is this stock interesting from a fundamental standpoint? The answer is "I don't know", the lack of information on the company and especially on its structure does not yet, make it a sure bet for the long term.
F
by Lahbabi
BULLISH GOLDEN CROSS ON JUNIOR GOLD MINERS 15MINA BULLISH TECHNICAL DEVELOPMENT ON THE 15M JUNIOR GOLD MINERS GDXJ CHART AMEX:GDXJ AMEX:JNUG BMV:JNUG CURRENCYCOM:JNUG CURRENCYCOM:JDST BVL:JNUG BMV:JDST CURRENCYCOM:JDST OANDA:XAUUSD OANDA:XAUCAD AMEX:GDX AMEX:BTG NYSE:AUY BCBA:AUY AMEX:SILV NASDAQ:PAAS AMEX:SGDJ AMEX:SILJ SWB:G2XJ SOIURCE: www.investopedia.com What is a Golden Cross? The golden cross is a candlestick pattern that is a bullish signal in which a relatively short-term moving average crosses above a long-term moving average. The golden cross is a bullish breakout pattern formed from a crossover involving a security's short-term moving average (such as the 15-day moving average) breaking above its long-term moving average (such as the 50-day moving average) or resistance level. As long-term indicators carry more weight, the golden cross indicates a bull market on the horizon and is reinforced by high trading volumes. www.investopedia.com():max_bytes(150000):strip_icc():format(webp)/GoldenCross-5c6592b646e0fb0001a91e29.png KEY TAKEAWAYS The golden cross is a technical chart pattern indicating the potential for a major rally. The golden cross appears on a chart when a stock’s short-term moving average crosses above its long-term moving average. The golden cross can be contrasted with a death cross indicating a bearish price movement.
AMEX:GDXJLong
by HandofGold
2