T3 Live

Jeff Cooper: Is a Gold Turn on the Table?


GDXJ triggered a little Triangle Pendulum buy signal on Friday:

Follow through is key. We're not getting it — yet.

That said, it is 180 degrees/days from the last breakout pivot on June 3 and we are roughly one year from the big low.

GDXJ is also satisfying gapfill from June 3 but needs to capture the last swing low, point A on the chart above, to confirm a turn is on the table.

Interestingly, the dollar is down and not helping gold/the miners here — for the moment that is not a plus.