GDX gold miner ETF setting up LONG

GDX

Based on the 4H chart as well as the price action of spot gold

using an EMA ribbon cross-over as well as the volume profile,

I have set up a long trade with two upside targets of about

10 and 20 % upside respectively with a stop loss of about

4% which would be adjusted as soon as the price rises above

$ 27 to move the stop loss to the entry price making for

a breakeven free trade after that. Overall, spot gold

is sitting on support with a bullish RSI divergent pattern.

I also see GDX as a candidate for the intermediate term

call options out of the money about 15% above the current

price being between the two targets.