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 perspectives will increase a lot and the objective should be the up line of the channel, as minimum (above 50). Of course, all is dependant on gold price

Other index we can see, is XAU

As we can see, it has been impossible to cross the descendant trendline coming from 2011. So this sould be the first sign to think in going up for the next years

In the case of HUI is exactly the same.

 It's been impossible to cross the descendant trendline from 2012

So, the key point is 1360-1425 range in GOLD. If it is able to get it and to overcome it, all this barrers in GDX, HUI and XAU will be defeated without problems

I hope in the coming weeks analyze some gold miners

See you!
Franky