However, they also, like GLD, look like they are working on a longer term bullish trend, perhaps in the process of creating some sort of base now.
GDX-Gold Miners 2 min intraday has turned leading negative
GDX 5 min relative negative divergence.
GDX's longer 15 min trend showing what appears to be accumulation at the price lows in perhaps some sort of base, the current 15 min divergence is negative and suggests GDX pulls back as it has in the past.
GDX 30 min chart with a negative divergence, very clean with little noise, however...
The longer term trend, 60 min chart not only has a large positive divergence that sent miners higher, that divergence overall is leading positive on an important timeframe. I'd watch miners for any positive divergences/accumulation in to price weakness.
Is interest rates about to start going up?
-
Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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