$GDX = Weekly Analysis = 24.12.2021 #gold #GLD #GDX #preciousmetals #investing #trading $gold #miners

Today’s analysis will be simple and totally different. We are just 5 days away from printing the monthly and quarterly candles and I want to share the perspectives of these candles.

Quarterly
If GDX does not close December above $31.97, the quarterly odds will remain bearish.
Just one fact. Two weeks ago, the PSAR flipped bearish. This event happened only twice before – in Q3, 2008 and in Q1, 2013.

Monthly
Based on the 4-month candle formation, the bearish odds are higher and will remain so unless GDX closes December above at least $33.52. This would require a 7% rally from the current price of $31.30. Is it feasible?

I charted this long term forecast in November 2020. It is still intact and no event suggests a change.

We will see how GDX closes December. We know what $GDX needs to do. The question is about probabilities.

Good luck!

This analysis is part of the series of Weekly Analyses that our service provides on:
$DXY $VIX $SPX $DJI $NDX
$gold $silver $GDX
$BTC $ETH

some large cap stocks, other cryptocurrencies and commodities.

Follow the blog in Twitter @InvestingAngles or by email subscription.

https://investingangles.com/subscription/

Previous analysis:
https://investingangles.com/2021/12/19/gdx-weekly-analysis-19-12-2021-gold-gld-gdx-preciousmetals-investing-trading-gold-miners/

DXY:
https://investingangles.com/2021/12/24/dxy-weekly-analysis-24-12-2021-dxy-dollarindex-usd-fintwit/

VIX:
https://investingangles.com/2021/12/24/vix-weekly-analysis-24-12-2021-stockmarket-vxx-investing-trading/

ETH Long Term Forecast:
https://investingangles.com/2021/12/23/eth-long-term-forecast-educational-23-12-2021-eth-ethereum-fintwit-crypto/

2 thoughts on “$GDX = Weekly Analysis = 24.12.2021 #gold #GLD #GDX #preciousmetals #investing #trading $gold #miners

Comments are closed.

%d bloggers like this: