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$GDX- Bearish Chart failed retrace of prior highs. Notice the previous
confirm sell signals. It needs to breakthrough this range w/ conviction.
The presence of the Red Ichimoku Cloud doesn't help my confidence.
I anticipate $GDX will fall back into the yellow channel.
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| $GDX, Now at 2014 confirm sell signal level & appears to be retracing |
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| $GDX Monthly Chart showing H&S pattern w/ bearish Red Ichimoku Cloud |
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| $XAUUSD, Extremely Bearish if Gold can't break $1280. There was a confirm
sell signal, then a fail retrace of the prior high. Their is yet a 3rd retrace a
3rd retrace unfolding from 5/16/16 morning high. If gold fails to break
$1280 it would signal a sell signal & a retrace lower . I'm a buyer of Gold
$XAUUSD $GDX $JNUG once Gold clears $1280 w/ conviction. My buy
price is $1298, i'm bearish until then.
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| $XAUUSD- chart just shows another bearish veiwpoint |
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