Gold Miners ETF (GDX)

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The Ord Oracle
By: Tim Ord | January 3, 2018

SPX Monitoring purposes; Long SPX on 12/27/17 at 2682.62.
Monitoring purposes GOLD: Long GDX on 12/20/17 at 22.49
Long Term Trend monitor purposes: Neutral.



The COT Commercials short position reported at 149K last week; up from 128K the week before; still in bullish levels but less so than a week before. Near tops in Gold the commercials reach 210K short or higher. The top window is the RSI for GDX which is above “0” and bullish. The second window up form the bottom is the UP Down Volume indicator and last Friday’s close came in at +27.12 and above “0” and bullish. Today’s reading will be updated later tonight and likely will increase form Friday’s reading. Next window up is the Advance/Decline indicators which is also above “0” and bullish and will most likely increased from Friday’s reading when it updates later tonight. Support lies near 2.75. Long GDX on 12/20/17 at 22.49.

Tim Ord,
Editor

http://stockcharts.com/articles/tac/2018/01/tim-ord-the-ord-oracle-january-3-3018.html

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