Gold Mining Index – testing support, again

So this thing certainly is not on the Bullish Trend List.

Trend following the sell-off, The Gold Miners Index $GDM $GDX is  testing another S/R (Support and Resistance Price Level) at $576.60.  So this thing certainly is not on the Bullish Trend List. When it returns to a trend in excess of, or at a minimum of, 10% annualized over 200 days ma, it’ll be back on the Upward Trend List.  This index is one of 20 we monitor.

Market Chart 63 day, daily:

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Gold Miners Index – selling continues

The gold miner stock sell off continues

The Gold Miners Index (GDM) (GDX) continues to break S/R (Support and Resistance Price levels) on a Weekly and Monthly Basis. The next Price Reversal below is at $568.10, trading at $581 today. The short term oscillators such as The RSI are oversold. So, we’ll if a BTD (Buy the dip) develops.

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Gold Miners Index– trend following analysis

gold mining stocks coming down

Gold Miners Index (GDM) (GDX) the Index is breaking long term support. The Monthly and Weekly S/R (Support and Resistance Price Level) is $598.50, currently trading intraday at $593.62. The Index today is trading under 10% annualized growth rate, over 200 days, but over 5%, over 200 days.

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Spot Gold

gold losing momentum

Spot Gold (GC) (GLD) today, trading at $1,276, is under trend of 5% annualized growth rate over 200 days, and, under major S/R (Support and Resistance Price Levels), both March Monthly and Weekly. S/R is $1,281 on this chart.

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Trend following – no predictions, no forecasts.

Gold trend following analysis

gold in low momentum trend

Spot Gold  (GC) testing last Month’s S/R (Support and Resistance Price levels) at $1,281.

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And testing last Week’s S/R at $1,285.

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The Long term trend is Upward at or exceeding a 5% annualized growth over 200 days ma. (Low momentum).

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The Relative Strength vs. The S&P 500 Index has turned negative, over a 200 day ma. The confidence in the private sector (US equities), by investors,  is trending higher.

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Barrick Gold (GOLD)

Barrick Gold going from Downward to Upward

Grinding it’s way from Long Term Downward to, at least Neutral, ..to almost an Upward trend. It is just starting to outperform the Gold Miners Index (GDM)(GDX), and Gold bullion. over 200 days. The Gold Miners Index is outperforming the S&P 500 Index, over 200 days. So, we’ll see if the M&A action in the gold mining industry will pay off for investors.

Looking at this chart of Barrick (GOLD), 36 Months, Monthly, there is a major S/R (Support and Resistance Price Level)  at $13.99. ..today trading at $14.12.

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Barrick Gold (GOLD)

Spot Gold breaks Weekly Reversal

Gold $GC $GLD at $1,299 closed the week under a Weekly Bearish Reversal of $1,305. #gold #trendfollowing #investing

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Spot Gold Weekly


and the Weekly Bullish S/R Price level at $1,366 remains a challenge.

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Spot Gold Weekly