Gold mining ETF offers a better trade than gold
Catching this decline and bounce in stocks might be easier than trading the metal itself.
Gold Miner ETF GDX
I have included charts of this ETF, GDX, in the last couple of gold posts and thought I should make a separate post on it for completeness sake. The main hypothesis shown on the following monthly and weekly charts is pretty similar to that of gold except that I am assuming an ending diagonal here as opposed to a simple impulse lower essentially allowing for a couple retests of the of the early 2016 low before a climb out of the hole.
Gold futures 2017-10-31
I have been putting off a bigger picture gold post as I have been reevaluating the big picture EW counts. Let me start with the two scenarios I had been using and move on from there.