GDXJ Gold Miners Juniors ETF 2-Hour Chart; Downward-Sloping Channel; Oversold; Positive Divergence

GDXJ is the gold miner juniors ETF. Keystone was buying some on Friday afternoon and at these levels but just for a quickie recovery trade. It will be fun to see if the positive divergence bounces price higher. The MACD may be causing the current sag in price but it should set up with possie d and be good to go, perhaps with a gap-up.

Some of the juniors may be taken over as well as the years play out which would bounce GDXJ; but this is in the context of holding it long for a while. The GDXJ daily chart is generally agreeable to a recovery. The GDXJ weekly chart wants another price low on the weekly basis.

Thus, the conclusion would be a bounce from here for a few days then roll over again and come back down to these lows about a week or so from now and that may be a significant low for the gold miners and a multi-week rally would follow. It will depend on the charts. GDX is the same dealio and Keystone bot some of this as well. It has been a long time since Keystone has been in the gold arena. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.

Note Added 10:49 AM EST: GDXJ 46.21. Break time is over, get back to work you miners, no sunlight for you today, get back into that Blue Sky Mine and don't come out until you have some yellow stuff, and we ain't talking pyrite, and don't worry about that asbestos. 

Note Added 11:00 AM EST: GDXJ 45.95. 

Note Added 11:03 AM EST: GDXJ 46.04. 

Note Added 11:08 AM EST: GDXJ 46.16. 

Note Added 11:14 AM EST: GDXJ 45.96. The 2-hour prints a new candlestick starting at 12 PM EST noon, munch time, then 2 PM, so those candlesticks will tell you the story.

Note Added 11:19 AM EST: GDXJ 45.95. Keystone bot some more GDXJ. Watch out, they want to get your Gold on the Ceiling.

Note Added 11:29 AM EST: GDXJ 45.75. This is fun. Do you feel lucky, punk? Or will you get blown into the water? Decide now. What's it going to be?

Note Added 7:50 PM EST: Hey, what's going on here? GDXJ ends at 44.99. The market-makers flushed it hard lower in the last 5 minutes. What are they doing? Getting their corrupt friends on board the trade? The GDXJ 2-hour looks good with positive divergence. The stochastics are possie d over the last month but may need a candlestick to satisfy the VST downside momo. She looks good for a pop. You will know tomorrow. GDXJ should bottom by 1 PM EST tomorrow so that will be something interesting to watch. Same-o for GDX at 30.90. It has a nice falling wedge on the 2-hour. GDX should bottom in the morning. The US dollar was pushed higher with the weaker euro and that sent gold lower so miners move with gold. If you bring up the GLD 2-hour it is similar to GDX and GDXJ but price is not yet at a lower low so possie d cannot exist. GLD will probably bottom over the next couple days after the miners or perhaps coincidentally. Tomorrow will be very interesting for GDX and GDXJ.

Note  Added Tuesday Evening, 3/2/21, at 8 PM EST: The bottom is placed and GDXJ jumps +3.5% up +4% intraday. GDX pops +3.4%. GLD gains +0.9%.

Note  Added Wednesday, 3/3/21: Thwack, whack. Gold and the miners are slapped lower on central banker intervention. Treasury yields run higher, stocks drop, euro drops, dollar rallies, gold and miners drop. Updated chart.