$GDX is now in a dynamic Stage 2 advancing phase that should see it run quickly into the resistance approaching its 2011 highs.
Gold prices stretched way above the 200 week moving average. Gold not breaking out just yet?
Trade very carefully in silver and copper this week as there can be abrupt price moves.
COT Gold Report - Positions as of Tuesday, August 18, 2020
Gold is late in its intermediate cycle move that one of two things will likely happen.
Gold is not in a trend short-term. Below the 18-dma, biased down. Bollinger bands: $1915.60 and $1990 on the upper end.
Final daily cycle low made a week ago? Price will roll-over and fall into October..
Fed is still really 'covid19' concerned, the reaction not friendly to inflation comments. A change for a day, more than a correction?
Gold is caught in a mid-way range, trend is up.
Gold has recaptured the $2000 price marker, and there’s already a noticeable pattern of higher highs and higher lows from the low of the reaction. That’s bullish action!
