Comex gold is in bull market territory, as are the VanEck Vectors Gold Miners ETF (GDX) , Barrick Gold (ABX) , Yamana Gold (AUY) , Goldcorp (GG) and Newmont Mining (NEM) . The exchange-traded fund and the gold mining stocks are significantly outperforming the price of the precious metal itself.

Keep in mind that the ETF and gold stocks are more volatile than gold futures, and are in bear market territory vs. their July highs.

Here's a scorecard for Comex gold, the gold ETF and the four gold mining stocks.

 

The weekly chart shows a red line through the price bars, marking the key weekly moving average (a five-week modified moving average). The green line is the 200-week simple moving average, the "reversion to the mean." The study in red along the bottom of the chart is weekly momentum (a 12x3x3 weekly slow stochastic), which scales between 00.00 and 100.00, where readings above 80.00 indicate overbought and readings below 20.00 indicate oversold. A negative weekly chart shows the stock below its key weekly moving average, with weekly momentum declining below 80.00 in a trend toward 20.00.

Here's the weekly chart for the VanEck Vectors Gold Miners ETF.

Courtesy of MetaStock Xenith

The VanEck Vectors Gold Miners ETF closed Wednesday at $24.76, up 80.5% year to date. It is in bear market territory, 22.1% below its Aug. 12 high of $31.79, and also in bull market territory, 99.7% above its Jan. 19 low of $12.40.

The weekly chart shifts to positive given a close on Friday above the key weekly moving average of $25.10. A close below the 200-week simple moving average at $23.34 would be a warning. The weekly momentum reading is projected to rise to 17.99 this week, up from 16.54 on Oct. 28. A strong close will pull momentum above the oversold threshold of 20.00.

Investors looking to buy the gold ETF should do so on weakness to $22.24, which is a key level on technical charts until the end of 2016. Investors looking to reduce holdings should sell strength to $31.21, which is a key level on technical charts until the end of November.

Here's the weekly chart for Barrick Gold.

Courtesy of MetaStock Xenith

Barrick Gold closed Wednesday at $18.14, up 145.9% year to date. The stock is in bear market territory, 22.7% below its July 6 high of $23.47, and also in bull market territory, 206.9% above its Sept. 23, 2015, low of $5.91.

The weekly chart is positive, with the stock above its key weekly moving average of $17.52 and above its 200-week simple moving average of $16.05. The weekly momentum reading is projected to rise to 20.13 this week, up from 15.10 on Oct. 28, moving above the oversold threshold of 20.00.

Investors looking to buy Barrick on weakness should do so at $15.88 and $14.11, which are key levels on technical charts until the end of this week and the end of 2016, respectively. Investors looking to reduce holdings should sell strength to $22.30, which is a key level on technical charts until the end of November.

Here's the weekly chart for Yamana Gold.

Courtesy of MetaStock Xenith

Yamana Gold closed Wednesday at $3.64, up 95.7% year to date. It is in bear market territory, 39.2% below its July 13 high of $5.99, and also in bull market territory, 163.8% above its Jan. 19 low of $1.38. The stock was an "option on survival" when it traded as low as $1.38 on Jan. 19, as is any stock trading between $1 and $3 a share.

The weekly chart is negative but oversold, with the stock below its key weekly moving average of $3.97 and well below its 200-week simple moving average of $6.59. The weekly momentum reading is projected to decline to 10.22 this week, down from 11.38 on Oct. 28, moving further below the oversold threshold of 20.00.

Investors looking to buy Yamana on weakness should do so at $3.33, which is a key level on technical charts until the end of next week. Investors looking to reduce holdings should sell strength to $4.87 and $5.72, which are key levels on technical charts until the end of 2016 and until the end of November, respectively.

Here's the weekly chart for Goldcorp.

Courtesy of MetaStock Xenith

Goldcorp closed Wednesday at $15.34, up 32.7% year to date. It is in bear market territory, 24.7% below its July 6 high of $20.38, and also in bull market territory, 62.2% above its Jan. 21 low of $9.46.

The weekly chart shifts to positive given a close on Friday above its key weekly moving average of $15.54 and well below its 200-week simple moving average of $21.52. The weekly momentum reading is projected to rise to 20.39 this week, up from 17.95 on Oct. 28, moving above the oversold threshold of 20.00.

Investors looking to buy Goldcorp on weakness should do so at $14.70, which is a key level on technical charts until the end of next week. Investors looking to reduce holdings should sell strength to $19.54 and $24.09, which are key levels on technical charts until the end of November and the end of 2016, respectively.

Here's the weekly chart for Newmont Mining.

Courtesy of MetaStock Xenith

Newmont Mining closed Wednesday at $37.18, up 106.7% year to date, and 19.3% below its Aug. 12 high of $46.07. It is in bull market territory too, 141.6% above its Aug. 26, 2015, low of $15.39.

The weekly chart shifts to positive if the stock ends the week above its key weekly moving average of $35.16 and well above its 200-week simple moving average of $27.31. The weekly momentum reading is projected to rise to 20.41 this week, up from 18.57 on Oct. 28, moving above the oversold threshold of 20.00.

Investors looking to buy Newmont on weakness should do so at $33.20 and $30.80, which are key level on technical charts until the end of next week and until the end of 2016, respectively. Investors looking to reduce holdings should sell strength to $47.21, which is a key level on technical charts until the end of November.

This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.

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