The Gold Trade

19 Des 2023

A predictable setup for a Junior Miner given the bullish setup as evidenced with other charts of Gold against various assets including but not limited to the Dollar. Reasonable price targets would be anywhere from 0.23-0.52c (AUD). This is as much speculative bet on Gold as it is on the stock (perhaps even more so). As indicated by both the Chart timeframe (Weekly) and the RSI bullish divergence (since Sept 2022), this would be conventionally understood as a Positional Trade expected to last atleast a Quarter if not two going into next year. The time duration would also explain the exceptionally high price target for this trade however it is not unusual for Gold Miners in particular Junior Miners to appreciate in value of this magnitude under the appropriate market conditions, which should be stressed are themselves exceptional times and not the norm as is evidenced by the GDXJ ETF Chart over the past decade.