GOLDBUGS AMEX Goldbugs Index (GOLD)

[DiscoverGold]

The Ord Oracle
By: Tim Ord | October 28, 2020

* (Click Read Full Story »»» at the bottom of the page for the charts to appear on the post)



Above is the weekly GDX chart with its RSI in the top window. This indicator looks at the intermediate-term for GDX. Bullish Intermediate-term trends occur when the weekly RSI for GDX is above 50 (current reading is 53.50). GDX has been consolidating since early August. The consolidation has been choppy with decreasing volume, which is the norm on consolidation patterns. The next impulse wave is not far off; the Bollinger bands for the GDX/GLD ratio are narrowing, suggesting a large move is not far off. Another rise in GDX should start soon and should last into the new year. Long GDX on 10/9/20 at 40.78.

Tim Ord,

Editor

Read Full Story »»»

DiscoverGold