GOLD and Gold Minners Indexes (GDX, XAU, HUI)
In my first article, I'd like to talk about gold. I'm long in GDX (Gold Minners) in the long term. I really love this sector! Firstly I'd like to show you where is the Gold now in the Long Term As you can see, the gold is inside a great channel since 1968 till now. From the second significant high in 2011 it has dropped till the middle of the channel, that is sopporting really well the price. As soon the price has touched the dotted line, it has rebound. Just now, Gold has 3 important resistances to overcome to go really up, probably reaching new highs in the following years: - the blue tendency line since 2016, - the red resistance line - the first channelized dotted black line above the center line of the great channel All of them are in the price range 1360-1425 Let's see where we are in GDX GDX is exerting pressure to the dotted black middle line of the great lighthly descendant channel since 2009. Once this line has clearly overcome, the ...