$GDX = Weekly Analysis = 10.09.2021 #gold #GLD #GDX #preciousmetals #investing #trading $gold #miners

GDX weekly closure is plain bearish. Let’s explore the hypothesis from the different time frames and different angles.

CANDLES

Monthly
The August candle was a standard bearish continuation candle that managed to close below July low and below 20m EMA line.
The majority of indicators point down. If GDX in September closes above $35, this would be bullish (very low odds at this point). Every other closure would be bearish.
Odds: Bearish

Weekly
This weekly candle is a bearish Engulfing that cancels some bullish hopes of last week. Last week, GDX produced a very classical Bullish Harami combo that was clearly confirmed this week.
The weekly price is back below 8 EMA, the majority of indicators point down.
We might see some bullishness early in the next week, but it is expected to close with a red candle.
Odds: Bearish

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Previous Monthly & Weekly:

$GDX = Monthly Analysis = 31.08.2021 #gold #GLD #GDX #preciousmetals #investing #trading $gold #miners

$GDX = Weekly Analysis = 03.09.2021 #gold #GLD #GDX #preciousmetals #investing #trading $gold #miners

5 thoughts on “$GDX = Weekly Analysis = 10.09.2021 #gold #GLD #GDX #preciousmetals #investing #trading $gold #miners

  1. Hi, the graphics on the charts are not too clear, even when enlarged especially the price on the y-axis. Not clearly visible. Could this be improved upon, please? Thanks.

  2. Hi, there is an intermittent issue with the backend that is managed by WP.
    Could you try to install a WordPress reader?

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