GDX... Launched!
The Gold miners ETF had a clear launch over the last two weeks, amidst the build up of the global events in Europe.
The Weekly chart has a sustained double breakout of a short term trendline, and the weekly 55EMA. The technicals (MACD and RPM) are very supportive, crossing upwards and into bullish territory.
The Daily chart shows the past two weeks developments, nothing short of being impressive and decisive. An immediate term resistance is seen, but am optimistic that the Gold miners have launched from the base low, at long last.
As previously mentioned... Gold prices have since moved significantly to above 1900, and equites are on the rise.
This are supportive of the GDX. Currently, a slightly stronger USD is disregarded and off set by the previous two.
GDX has since moved up 10% and is slated for much for upside, way above 40 IMHO. Projections in a later following post...
The Weekly chart has a sustained double breakout of a short term trendline, and the weekly 55EMA. The technicals (MACD and RPM) are very supportive, crossing upwards and into bullish territory.
The Daily chart shows the past two weeks developments, nothing short of being impressive and decisive. An immediate term resistance is seen, but am optimistic that the Gold miners have launched from the base low, at long last.
As previously mentioned... Gold prices have since moved significantly to above 1900, and equites are on the rise.
This are supportive of the GDX. Currently, a slightly stronger USD is disregarded and off set by the previous two.
GDX has since moved up 10% and is slated for much for upside, way above 40 IMHO. Projections in a later following post...
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