I’ve been asked what I see with the selling in GDXJ / GDX today.
– I can view it in a few different ways, so lets start with the daily
–( Is it just a simple “test” of the break out & 10sma ?)
A few close ups and we can watch the action in a bullish way too, or possibly more selling to come.
The 2 hr chart again shows a possible “test” of the Triangle, but note the “GAP” too, and Stochastics isnt oversold.
Now we look at a 10 minute chart and see a possible H&S may lead to that gap fill. SO it bears watching at the top of the triangle, if the selling continues.
So if I was looking to add a position (or add to a current position), These are key areas to watch I.M.H.O.