GDXJ - Chart Link - 60 min view so far on
that potential breakaway gap price has consolidated. I would have
preferred to see price get even stronger after the gap vs this
consolidation. Again we'll see as long as price doesn't pullback
too much it's fine
GDX - Chart Link - here's the 5 min view
of GDX, that's a pretty good pullback from the morning high, not
would I would like to see for the group. Also with the
general market getting stronger that hasn't helped.
again it's still fine but this is something to keep an eye on,
if GDX continues to weaken that might mean this group is not yet
ready.
also historically gold tends to bottom in July, again too early
to make conclusions yet, but I would not like to see GDX and gold
stocks weaken a lot more off their intra day highs
GDX, GDXJ, gold stocks
Posted by matt on 22nd of Jun 2020 at 12:23 pm
GDXJ - Chart Link - 60 min view so far on that potential breakaway gap price has consolidated. I would have preferred to see price get even stronger after the gap vs this consolidation. Again we'll see as long as price doesn't pullback too much it's fine
GDX - Chart Link - here's the 5 min view of GDX, that's a pretty good pullback from the morning high, not would I would like to see for the group. Also with the general market getting stronger that hasn't helped.
again it's still fine but this is something to keep an eye on, if GDX continues to weaken that might mean this group is not yet ready.
also historically gold tends to bottom in July, again too early to make conclusions yet, but I would not like to see GDX and gold stocks weaken a lot more off their intra day highs
Seasaonality favors gold here, plus
Posted by burkmere on 22nd of Jun 2020 at 02:43 pm
Seasaonality favors gold here, plus it's been in a couple month consolidation.