Gold Miners ETF (GDX)

[DiscoverGold]

Jack Chan: Gold Price Exclusive Update
By: Jack Chan | June 18, 2022



Our proprietary cycle indicator is down.

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 sell signal.



GDX is on short term sell signal.



XGD.to is on short term sell signal.



GDXJ is on short term sell signal.

Analysis



Speculation now at the lowest level in two years.



Our ratio is on sell signal.



Trend is up for the dollar.



$HUI broke support this week.



Gold is holding support.



Support and resistance are now well defined.



GDX is testing support again.

Summary

Long term – on BUY signal.

Short term – on sell signals.

Gold sector cycle is down.

$$$ We are holding a core position as long as $HUI remains on long term buy.

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