$GDX = Daily Analysis = 25.08.2021 #gold #GLD #GDX #preciousmetals #investing #trading

As forecasted, $GDX fell to $31 last week and it looks like it is setting to move deeper. Let’s explore the hypothesis.

CANDLES

Daily
On Aug 24 formed a classical Meeting Line combo that signaled bearish reversal. On Aug 25 we got a confirmation.
With the red candle, the price moved back to below all 8/20 EMA, 50/100/200 MA lines that are placed in the worst possible bearish alignment.
The technical indicators seem to support further move down.
Odds: Bearish

It would be rather a miracle if GDX advances from here on such strong bearish odds.
Is this a harbinger of what is about to happen with gold?

The Premium Content section contains the long term forecast and the most probable targets for short/mid term stock movements.

The following analysis is Premium Content and is available for the subscribers. For only $10 USD, the monthly subscription gets you access to the monthly and weekly analyses, long term forecasts on cryptocurrencies, oil, precious metals, major US indices, DXY and more.
There is no free trial. For $10 USD you can evaluate the service for a month and cancel it any time.

Premium Content

Read more of this content when you subscribe today.

Previous Monthly & Weekly:

%d bloggers like this: