Like the currency charts today I will do long term levels, then quarterly and monthly charts.
GLD W chart fading back under YR1 again. This would be very negative for a full GLD/GDX position. We are still 3 trading days from close but concerned about re-balancing / profit taking in the new Q. Anything close below the YR1 level again would be a reduce.
Here's the daily chart with the same long term levels. We do not want to see the YR1 act as resistance today after jumping above yesterday. But above is OK to hold.
Note: current GCJ contract YR1 level is 1230, so that can be factored into this decision too.
GLD Q chart still in downtrend really, below a falling 20MA.
But M chart turning above a flat-ish 20MA. After one fake-out bar 2015 Jan, this is the best move in years simply going by this measure of above / below the monthly 20MA.
GDX below the YR1 but willing to give room if GLD / GCJ holds.
GDX Q chart also still in severe downtrend but the small red bar 2015 Q4 (ie no more selling) was part of the tell for the bounce here. Also helps to be back above the 2008 low.
Above a still falling 20MA that should be in process of flattening out. First time in years above the M 20MA though.