Is 2019 going to be the year for Gold to shine? I wrote an article back on December 6th 2018, that was also published in the Jan/Feb 2019 edition of Your Trading Edge Magazine, where I noted potential for bullish breakouts on a number of Gold stock / ETF charts and some of these entities have now broken out to the upside. In this post I note which stocks have moved and what levels to monitor next.
The Jan / Feb 2019: Your Trading Edge Magazine: Gold article featured:
Gold: spot Gold:
Gold monthly: there has now been a break of the 7-year bear trend line but not much momentum on the monthly chart just yet.
Gold weekly: there has been a bullish breakout above a 7-year bear trend line and note how bullish momentum on the ADX is now evident on this time frame and underpinning the move higher. Watch for any push up to the weekly 61.8% fib, circa $1,600:
Gold daily: a bull trend line remains intact so watch for any continuation here:
Gold Stocks / ETFs
GLD: Gold Shares ETF weekly: there has now been a bullish trend line breakout and move above the weekly Cloud. Watch for any volume spike to underpin a move higher. The target is near the weekly 61.8% fib, circa $155:
GDX: Gold Miners ETF weekly: there has now been a bullish trend line breakout but watch for any move above the Cloud and volume spike to underpin a move higher. The target is near the weekly 61.8% fib, circa $50:
GDXJ: Gold Junior Miners ETF weekly: there has now been a bullish trend line breakout and move above the weekly Cloud. Watch for any volume to underpin a move higher. The target is the weekly 61.8% fib, circa $120:
DGP Double LONG Gold ETN weekly: Watch for any break above $30 and for any Volume spike here. Target is near the 61.8% fib, circa $50:
IAU Gold ETF weekly: there has now been a bullish trend line breakout and move above the weekly Cloud. Watch for any volume spike to underpin a move higher. The target is near the weekly 61.8% fib, circa $15.00:
AUY Yamana Gold weekly: there has now been a bullish trend line breakout so watch for any move above the weekly Cloud and for a volume spike to underpin a move higher. The target is the weekly 61.8% fib, circa $13.00:
GG Goldcorp weekly: there has now been a very new bullish trend line breakout so watch for any move above the weekly Cloud and for a volume spike to underpin a move higher. The target is near the weekly 61.8% fib, circa $40.00:
GOLD: ABX Barrick Gold weekly: watch for any triangle and Cloud breakout here on a volume spike:
HMY Harmony Gold weekly: there has now been a bullish trend line breakout and move above the weekly Cloud. Watch for any volume spike to underpin a move higher. The target is the weekly 61.8% fib, circa $10.00:
KGC Kinross Gold weekly: there has now been a rather new bullish trend line breakout so watch for any move above the weekly Cloud and for a volume spike to underpin a move higher. The target is near the weekly 61.8% fib, circa $20.00:
NG Novagold weekly: watch for any triangle and Cloud breakout here on a volume spike:
NEM Newmont Mining Weekly: watch for any triangle and Cloud breakout here on a volume spike:
