I believe Gold is close to bottoming - we may see a short term move down on Gold due to dollar strength, however I believe the cyclical effects of Gold entering into a bull market will overpower the impact of Dollar strength weakening risk on assets.
The entry zone at 35.56 may be broken as it's possible a stronger move down in Gold will happen first. This could send GDXJ down to anywhere between 32 and 26. Probably 30 being the most probable value in which GDXJ will bottom at.
My plan is to buy at 35.56 and in the 32-26 zone, with 30 being the closest value I expect it to reverse from - but that will require further analysis on Gold nearer the time.
Please see my Gold analysis which I will post shortly to understand this perspective.
The entry zone at 35.56 may be broken as it's possible a stronger move down in Gold will happen first. This could send GDXJ down to anywhere between 32 and 26. Probably 30 being the most probable value in which GDXJ will bottom at.
My plan is to buy at 35.56 and in the 32-26 zone, with 30 being the closest value I expect it to reverse from - but that will require further analysis on Gold nearer the time.
Please see my Gold analysis which I will post shortly to understand this perspective.