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:
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.
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.
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.
Trend following – no predictions, no forecasts.
gold in low momentum trend
Spot Gold (GC) testing last Month’s S/R (Support and Resistance Price levels) at $1,281.
And testing last Week’s S/R at $1,285.
The Long term trend is Upward at or exceeding a 5% annualized growth over 200 days ma. (Low momentum).
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.
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.
Gold $GC $GLD at $1,299 closed the week under a Weekly Bearish Reversal of $1,305. #gold #trendfollowing #investing
and the Weekly Bullish S/R Price level at $1,366 remains a challenge.
