GDX Technical Support Outlined...

Here we are looking at GDX on the Daily TF…

This analysis will be fairly brief, as the chart is crystal clear as of right now. Here you can see that GDX has retraced since its most recent uptrend which began in November of 2022. Currently, I am expect GDX to bounce off of the strong technical support as marked by the horizontal line (yellow).

This outlined support line hasn’t been re-tested since its break out from it (as previous resistance) which led to its run up as previously mentioned. Now, we can expect GDX to attempt to bounce from this line, and turn this previous resistance into newfound support.

It’s as simple as that…

Let me know what you think BTC is going to do next in the comments!

Cheers!!