Gold Miners ETF (GDX)

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Jack Chan: Gold Price Exclusive Update
By: Jack Chan | June 11, 2022



Our proprietary cycle indicator is down, but bottoming.

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 is on long term BUY signal, suggesting that the correction since 2020 has been completed.



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



Speculation rising from level of previous bottoms.



Our ratio is on buy signal.



Trend is up for the dollar.



$HUI is holding support.



Gold is holding support.



Downside gap is now filled.

The are two upside gaps to be filled in coming days.

Summary

Long term – on BUY signal.

Short term – on buy signals.

Gold sector cycle is down but bottoming.

Speculation has reached level of previous bottoms, expect overall higher prices.

$$$ We are holding a core position and will continue to accumulate positions.

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