GDX
Based on the 4H chart as well as the price action of spot gold
using an EMA ribbon cross-over as well as the volume profile,
I have set up a long trade with two upside targets of about
10 and 20 % upside respectively with a stop loss of about
4% which would be adjusted as soon as the price rises above
$ 27 to move the stop loss to the entry price making for
a breakeven free trade after that. Overall, spot gold
is sitting on support with a bullish RSI divergent pattern.
I also see GDX as a candidate for the intermediate term
call options out of the money about 15% above the current
price being between the two targets.
Based on the 4H chart as well as the price action of spot gold
using an EMA ribbon cross-over as well as the volume profile,
I have set up a long trade with two upside targets of about
10 and 20 % upside respectively with a stop loss of about
4% which would be adjusted as soon as the price rises above
$ 27 to move the stop loss to the entry price making for
a breakeven free trade after that. Overall, spot gold
is sitting on support with a bullish RSI divergent pattern.
I also see GDX as a candidate for the intermediate term
call options out of the money about 15% above the current
price being between the two targets.