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Working out when to re-enter the GDX. Obviously things have looked pretty bearish since the election and USD continued to rise, although that wasn't really stopping gold's rise earlier in the year. Maybe it's just a lot of profit taking as well.Chart approaching 200dma which might provide a bump, but previous support lines have all been taken out. Looking close to very oversold on the RSI. Under 30 and it's oversold, so If it hits 20 it might be a good opportunity.Central banks must be wondering when they start buying again too. Not sure what China's been up to recently, but I recall they had halted big buys once gold started to run away.[ATTACH=full]187913[/ATTACH]
Working out when to re-enter the GDX. Obviously things have looked pretty bearish since the election and USD continued to rise, although that wasn't really stopping gold's rise earlier in the year. Maybe it's just a lot of profit taking as well.
Chart approaching 200dma which might provide a bump, but previous support lines have all been taken out. Looking close to very oversold on the RSI. Under 30 and it's oversold, so If it hits 20 it might be a good opportunity.
Central banks must be wondering when they start buying again too. Not sure what China's been up to recently, but I recall they had halted big buys once gold started to run away.
[ATTACH=full]187913[/ATTACH]
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