Market Vectors Gold Miners (GDX) - Chart Freak

Market Vectors Gold Miners (GDX)

 

Market Vectors Gold Miners (GDX)

 

A REMINDER OF JAN 2016 –

 

Market Vectors Gold Miners (GDX) - Chart Freak - ChartFreak

GDX – The targets of a possible DCL, but what if we do as we did in 2016, where we couldn’t even break & close below the 10sma?

 

 

GDX WKLY – We could dip into a dcl and be fine, so expect this in the back of your mind if the USD bounces higher, but can we just climb higher like 2016?  Yes, we could.

 

Market Vectors Gold Miners (GDX) - Chart Freak - ChartFreak 2

 

Market Vectors Gold Miners (GDX) – This looks to me to be a Bullish ascending flat top wedge. While a drop to the 50sma has always been expected, these usually squeeze into the apex and POP higher. We are at the apex, so that means we won’t have to wait long to know- this will resolve next week.

 

Market Vectors Gold Miners (GDX) - Chart Freak - ChartFreak 3

 

GDX –  This is the pattern and the target often matches the flag pole length.

 

~ALEX

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