After its bounce, Gold started to descend as the dollar is showing signs of bouncing back up.
Should stock show signs of weakness, it will bring this down...
50% FIB target around $43
Same analysis applies to GDX but target is different.
Disclaimer: The above is just an idea, not an investment advice. Do your own diligence, trade safely and stay safe!
Should stock show signs of weakness, it will bring this down...
50% FIB target around $43
Same analysis applies to GDX but target is different.
Disclaimer: The above is just an idea, not an investment advice. Do your own diligence, trade safely and stay safe!
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Looking good this morning... I hope to see it break $55
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Will it attempt to crack that $55 floor again today? It will be the third time in 2 weeks. We need to break $55 to get lower to $48 then $43...
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Potentially interesting move in formation today. Bonds are up significantly today, SPY is weak, dollar is weak and miners and gold are up.In March, we got 2 down days in SPY, a falling dollar and then SPY gaped down while miners peaked the next day to start reverting intraday that day. I am watching for when miners peak and start to follow the market trend down. This might be the signal for a large correction in miners as well as SPY. Miners tend to burst up before they decline.
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Trending down slower than I was hoping but still trending down from the recent top when you look at the the recent lower highs, we are still trending down
