"No warning can save people determined to grow suddently rich" - Lord Overstone

  • 49 mins Why Are Governments Creating Their Own Cryptocurrencies?
  • 2 hours How Debt Cycles Impact Gold
  • 3 hours Investors Up the Ante In $1.5B Uber Loan Deal
  • 5 hours Are Gold Miners Poised For A Breakout?
  • 6 hours Is The "Crypto Winter“ Over?
  • 8 hours China Says It Doesn’t Fear Trade War
  • 24 hours Twitter CEO: The World Will Have A Single Currency
  • 1 day Asian Currency Correction Could Signal Looming Crisis
  • 1 day Best Buy Drops Telecom Giant Over National Security Threat
  • 1 day The Pros And Cons Of The Federal Interest Rate Hike
  • 1 day Good News For Gold Bulls Despite Interest Rate Hike
  • 1 day Trump Hits China With $50 Billion In Tariffs
  • 1 day Russian Gold Reserves Hit Record High Amid Rising Tensions With West
  • 1 day Stocks Pull Back Following Interest Rate Hike
  • 2 days Will Regulatory Rollbacks Make Banks 'Too Big To Fail?'
  • 2 days Elon Musk’s $2.6 Billion Tesla Challenge
  • 2 days Tech Giants Could Be First Victims Of U.S. Trade War
  • 2 days Dow Gains Despite Fed’s Rate Hike
  • 2 days The Biggest Threat To Chinese Oil Futures
  • 2 days Spending Bill Could Cause U.S. Debt To Soar To 99% Of GDP
Rambus Chartology

Rambus Chartology

Rambus Chartology is Primarily a Goldbug TA Site where you can watch Rambus follow the markets on a daily basis and learn a great deal…

More Info

The GDXJ: Impulse Move Pending

The GDXJ is at an important inflection point right here and now. As you can see it's sitting right on the neckline of a small H&S top that has formed at the fourth reversal point on the potential bearish falling wedge. A break of the neckline will almost assure a move down to the bottom blue rail of the falling wedge at a minimum.

Market Vectors Junior Gold Miners Daily Chart 1
Larger Image

The long term weekly chart shows the two blue consolidation patterns with the lower one being the possible bearish falling wedge we looked at on the chart above. Note the 4th reversal point in the top pattern, the bearish rising wedge, and the decline that followed. The fourth reversal point in the lower bearish falling wedge may very well be the beginning of the next impulse move down similar to the fourth reversal point in the bearish rising wedge. If that is true this move down is just getting started. The blue arrows measures the price objective down to the 12.69 area which would cut the GDXJ in half from the current level.

Market Vectors Junior Gold Miners Weekly Chart
Larger Image

The daily chart for the GDX shows it has now broken below the bottom rail of the black triangle using the bar chart. Notice it formed a small H&S top at its fourth reversal point similar to what the GDXJ is doing right now. When you compare this daily chart for the GDX to the GDXJ chart above the GDX big caps are leading the way lower. Maybe the small caps will play catch up as they are lower on a percentage basis today.

Market Vectors Junior Gold Miners Daily Chart 2
Larger Image


Back to homepage

Leave a comment

Leave a comment

Sign Up For The Safehaven Newsletter