The longer the correction has gone on the more it has moved from the look of a minor topping pattern to a potential consolidation pattern,
Daily GDX has not broken down. I would not rule out a bounce to fill the gap above 28 and possibly test the SMA 50.
It does not mean that the pullback in the miners (and gold/silver) is over but it does mean that an annoying issue is being addressed
Notice I wrote “begins” in the title. Today was the first real day of regurgitation with conviction. Long-term support levels are going out the window
Gold stocks are not responding well to the deflationary whiff in the air and I continue to think that is because they got caught up
A quick look at daily chart parameters for GDX and GDXJ. GDX has dropped to the SMA 50, which is a support level. The chart
For we gold bugs in the NFTRH sphere, let’s have a specific update on a subject that is hitting my inbox a lately; a potential
I am not bullish on the miners as a group because the technicals are bear biased and the fundamentals are not nearly all in place.
Using the GDX and GDXJ daily charts, I thought I’d show some previous examples of bull flags so that now we can note potential bear
Daily technicals with no cluttering fundamental or sentiment commentary. HUI hit resistance above 240 in the form of the neckline to a pattern that could
A technical update using daily charts for those micro managing the daily moves and shorter-term trends. Fundamentally, I like that the stock market and crude
Here we play the short-term technical game again despite the gold sector running against its own fundamentals (i.e. as the ‘inflation trade’, including mining cost
The precious metals were due to pull back and here is a pullback. Please review this morning’s post for a look at how the macro
GDXJ is going to break one way or the other pretty soon. It’s in a Diamond, which is a consolidation pattern, usually thought to have