Gold Miners ETF (GDX)

[DiscoverGold]

The Ord Oracle
By: Tim Ord | July 5, 2018

• SPX Monitoring purposes; Long SPX on 6/29/18 at 2718.37
• Monitoring purposes Gold: Neutral
• Long Term Trend SPX monitor purposes: Long SPX on 6/29/18 at 2718.37



Today’s closing for Up Down Volume and Advance/Decline indicators won’t be updated until later tonight. To signal a bullish run is starting for GDX the Cumulative Advance/Decline and Cumulative Up Down Volume need to close above their mid Bollinger bands and that the Mid Bollinger band turn up. As you can see from the chart above both are below their mid Bollinger band. Once the Cumulative A/D and Up Down volume indicators trigger their buy signals, a longer term uptrend could start. The COT Gold Commercials are 95K short; previous commercials gold shorts less than 100K has come near gold bottoms. There are cycle lows due starting June 25 and run into July 4.

https://www.investing.com/analysis/all-new-market-analysis-200329392

• DiscoverGold

Click on "In reply to", for Authors past commentaries