Gold Miners ETF (GDX)

[DiscoverGold]

Jack Chan: Gold Price Exclusive Update
By: Jack Chan | April 10, 2021



Our proprietary cycle indicator is up.

To public readers of our updates, our cycle indicator is one of the most effective timing tool for traders and investors. It is not perfect, because periodically the market can be more volatile and can result in short-term whipsaws. But overall, the cycle indicator provides us with a clear direction how we should be speculating.

Investors

During a major buy signal, investors can accumulate positions by cost averaging at cycle bottoms, ideally when prices are at or near the daily 200ema.

During a major sell signal, investors should be hedged or in cash.

Traders

Simply cost average in at cycle bottoms when prices are at or near the daily 200ema; and cost average out at cycle tops when prices are above the daily 50ema.



Gold sector remains on long-term BUY at the end of March.



GLD is on short-term buy signal.



GDX is on short-term buy signal.



XGD.to is on short-term buy signal.



GDXJ is on short-term buy signal.

Analysis



COT data is favorable for overall higher gold prices.



Our ratio is on a new BUY signal, with a bottoming pattern in progress.



Gold is bouncing from major support.



GDX is bouncing from major support.



GDXJ is bouncing from major support.



XGD is bouncing from major support.

Summary

Long-term – on major BUY signal.

Short-term – on buy signals.

Gold sector cycle is up.

$$$ We are 50% invested. New money can buy at current prices for the long-term.

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