GDX 5 Wave Up?

Watching how GDX reacts to $20.50-$21.30 level to see if it can move up on 5th wave in the medium term. Long-term chart is quite confusing. Wave 2 looks quite complicated, has potentially to not be done and retrace almost all of Wave 1. See how it performs in the Med term to see which way it will go.

The metals (GC, SI) are pulling back which can coincide with GDX's move back down to $20.50-$21.30 and then keep moving up

Yorum:

See how things go over the next few days, FOMC tomorrow but its right at the make or break point

considering buying some calls tomorrow morning

Yorum:

any further down then GDX will likely revisit $18 at least. The current move down is low volume. Gold hit my first uptrend line and bounced off it.