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$GDX = Daily Analysis = 12.08.2021 #gold #GLD #GDX #preciousmetals #investing #trading #Elliottwaves – Investing Angles
Forecasting Stock Movements from Multiple Angles
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Today $GDX completed a clean Bearish Separating Lines combo. Most likely the end of consolidation before the next leg down. Let’s explore the hypothesis.
The latest Monthly Analysis – link at the bottom.
$GDX started today 1 pip away from yesterday’s open and worked all the way down and made a new lower low.
The bearish pressure is back on the daily frame and continues to be significant on the weekly/monthly. The indicators signal further downtrend and there is no bullish sign so far.
!Two of the monthly indicators signal a possible wave 3/C on the monthly scale. It would not surprise me if we see two-three large red monthly candles in a row.
Nothing to add to what was previously said:
From the Daily yesterday: “A red candle tomorrow would signal a continued downtrend.”
From the last Monthly: “GDX continues to be under a strong bearish pressure on the monthly and a significant effort would be required to overcome this. Unless there is a strong bullish move in the first week, I am expecting GDX to continue down in August.
The long term targets continue to be the same as I identified several weeks ago – $31, $25, $15. The levels and forecasted counts are on the monthly chart. Until I can see a strong bullish move on the monthly frame or at least a rally on weekly that would recover the long-term damage, the bearish odds remain in force.“
If $GDX closes tomorrow above $33, or +2.65%, if would make a strong daily and weekly reversal statements. We will see how it closes on Friday the 13th.
The detailed previous Monthly and Weekly analyses with forecast can be found by the links below. The Weekly Analysis tomorrow will be Premium Content.
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Long Term Forecast for Silver.
#Silver = Monthly Analysis + Long Term Forecast = 09.08.2021 $SLV #preciousmetals #investing #Elliottwave
Previous Monthly & Weekly:
$GDX = Monthly Analysis = 31.07.2021 #gold #GLD #GDX #preciousmetals #investing #trading
$GDX = Weekly Analysis = 06.08.2021 #gold #GLD #GDX #preciousmetals #investing #trading
Posted byDimonAugust 12, 2021August 12, 2021Posted inCandles Speak, Daily Update, MinersTags:GDX
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#Bitcoin = Micro Path = 12.08.2021 $BTC #BTC #crypto #cryptocurrency #investing #trading #charts #ElliottWaves