All Systems Go For Gold Breakout
David Tablish | Feb 20, 2019 12:10AM ET
Below is the combo chart which has the ARCA Gold Bugs Index HUI on top, the PowerShares DB US Dollar Bullish ETF (NYSE:UUP) in the middle and SPDR Gold Shares (NYSE:GLD) on the bottom. Everything looks fine.
The VanEck Vectors Gold Miners ETF (NYSE:GDX) daily chart shows a nice breakout and backtest to the top rail of the bullish rising wedge and now the door is open for a move higher.
Below is the weekly chart for the GDX which shows the breakout starting to gain some momentum.
Below is the weekly chart for the VanEck Vectors Junior Gold Miners Fund (NYSE:GDXJ) which shows all systems go.
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