We focus on the key support levels in Gold, GDX and GDXJ that could come into play this week.
Gold closed last week at $1990. It has support at $1950 and $1900. Also, watch the 50-day, 100-day and 150-day moving averages as they could help mark a secondary low over the next few weeks.
GDX and GDXJ have corrected 8% and 10% respectively. They could have another 5%-7% downside to strong short-term support targets.
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9 Comments
Go gold
100 day daily would be confirmed on 20 day weekly 1900$, also 5 day on monthly and the high of 2011 on a yearly chart.
All are pretty close!
I have silver monthly, 20 day. 22.5$ area
Correction into the next FOMC next week then rally out of it
By the end of the video,
Jordan becomes so quiet
that he is almost whispering.
The fed will announce a pause next week. How could Gold goes down to 1900$.
We got our 1000 bucks gold from kiyosaki.
Or, this mild correction is almost over and a new ath is imminent…
Good info!