Miners resilient to the main market

The gold miner ETF of GDX saw a net February gain of +$4.15 (13.7%) to $34.38.

GDX, monthly

 

Summary

The miners rebounded strongly in February, spiking to $36.06, if cooling back to settle powerfully higher at $34.38. The miners were notably resilient to the weak main market. We have a marginal break above m/t declining trend. I would note the 10MA at $32.65, which was decisively settled above. Soft target 39/40s.
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Three of the key miners...

Newmont (NEM), monthly

 

Newmont broadly climbed with the sector, with a net February gain of +$5.03 (8.2%) to $66.20. I would note the monthly 10MA in the $60s, which was again settled above. Monthly momentum will be prone to turning positive in March/April.
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Barrick Gold (GOLD), monthly

 

Barrick Gold climbed for a fifth consecutive month, settling +$3.50 (18.4%) to $22.57. Momentum is due to turn positive within March/early April. Next target are the $25s, and then psy' $30. A push above the Aug'2020 high of $30.47 will likely require Gold at least >$2100.
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First Majestic Silver (AG), monthly

 

First Majestic saw a net February gain of +$1.08 (10.6%) to $11.24. Still a m/t mess, things turn interesting above the 10MA, currently at $12.86, and decisive >15s.

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Of the three, yours truly currently favours GOLD.
As of Feb'28th 2022, I hold long via NEM, GOLD (via options) and AG.

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Miners cooling back

The gold miner ETF of GDX saw a net January decline of -$1.80 (5.6%) to $30.23.

GDX, monthly

Summary

January saw the miners cool to $28.87, if recovering to settle rather powerfully lower at $30.23. Ongoing short and mid term price action is still a bearish leaning mess. Things turn interesting above m/t declining trend, which in February will be in the $35s. I would note the 10MA at $32.59. Things turn decisive with a monthly settlement above $35, but that looks difficult with the main market prone to lower lows in February.
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Three of the key miners...

Newmont (NEM), monthly 

Newmont saw considerable chop, with a net January decline of -$0.85 (1.4%) to $61.17. I would note the monthly 10MA in the $59s, which was again settled above. Monthly momentum prone to turning positive in April/May.
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Barrick Gold (GOLD), monthly

 

A fourth consecutive month of chop, to settle +15cents to $19.15. Soft target of the $22s, and secondary of the $25s. A push above the Aug'2020 high of $30.47 will likely require Gold at least to >$2100.
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First Majestic Silver (AG), monthly

 

A net January decline of -$0.95 (8.5%) to $10.16.The 10th month lower of 12, with zero sign of a m/t floor.

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Of the three, yours truly currently favours NEM.
As of Jan'31st 2022, I hold NEM, GOLD, and AG.

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Net 2021 declines for the miners

The gold miner ETF of GDX saw a net December gain of +$0.78 (2.5%) to $32.03, which made for a net 2021 decline -$3.37 (9.5%).

GDX, monthly

Summary

December saw the miners cool to $28.40, but recovering to settle very significantly higher at $32.03. Ongoing short and mid term price action is still a bearish leaning mess. Things turn interesting above m/t declining trend, which in January will be in the upper $34s. I would note the 10MA at $32.76. Things turn decisive with a monthly settlement above $35, which looks just about within range in January.
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Three of the key miners...

Newmont (NEM), monthly 

Newmont printed a spike floor of $52.09, and swung very powerfully upward, with a net December gain of +$7.64 (14.0%) to $62.02. The December candle is bullish engulfing and leans distinctly s/t bullish. I would note the monthly 10MA in the $59s, which was decisively settled above. With a net yearly gain of +7.4%, m/t bullish to challenge the May 2021 historic high of $73.32. Monthly momentum prone to turning positive in March/April.
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Barrick Gold (GOLD), monthly

 

A new multi-year low of $17.27, but recovering to settle +1cent to $19.00. A net yearly decline of -15.1%. Soft target of the $22s, and secondary of the $25s. A push above the Aug'2020 high of $30.47 will likely require Gold at least to >$2100.
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First Majestic Silver (AG), monthly

A net December decline of -$0.81 (6.8%) to $11.11. I would note the December settlement on secondary key price threshold. A net yearly decline of -17.2%. Soft target of the monthly 10MA in the $13s.

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Of the three, yours truly currently favours NEM.
As of Jan'1st 2022, I hold NEM, GOLD, and AG.

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