SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Pastimes : Current Events
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
From: Robov7/18/2014 9:36:13 PM
1 Recommendation

Recommended By
Beam

  Read Replies (1) of 1811
 
Posted my most recent analysis of the H & S bottom pattern I have been following on the GDXJ chart.

Well here's the this week's updated Weekly and daily GDXJ chart and I gotta say I really like what I'm seeing. For anyone that cares and has been reading these updates if you'll remember I indicated that more often than not once we got a breakout through the neckline that price often comes back to test the breakout neckline as support. Did we get that this week? There is no doubt price came down close to the neckline but didn't actually make it all the way to the line before finding buyers and painted a nice doji on the greatest volume to date. Record volume once again. GDX although not exactly identical is close enough as it actually did touch its neckline before bouncing this week forming a beautiful hammer candle. Based on these patterns there is no doubt in my mind that this sector has turned. Everything about these charts is bullish to me and shows me that we will almost certainly see higher prices as the year progresses regardless of what the bearish banksters would have me believe about gold's future direction. I mean if today's action in the broad markets based on yesterday's news of the Malaysian plane downing and Israel's Gaza invasion doesn't show you how F'd up ('scuse my language) things are......while gold get's paper over once again by the banksters nothing will. Even my Futures instructor was shaking his head in disbelief today at how the S & P e-minis just blew higher through quality supply levels. Anyway it is what it is until it ain't. No sense fighting the trend and trying to catch the top as I was (I'm not anymore). I'll step back for now and look at other markets. Any who I digress here is the updated weekly and daily GDXJ charts.



Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News