After closing at the top of the triangle pattern yesterday (30 minute chart), GDX moved lower to close at the bottom of the pattern today. An upside or downside resolution is likely to come tomorrow or by Wednesday, latest. As is typically the case during symmetrical triangle patterns, the price & momentum indicators & oscillators aren't providing many clues as to which way the pattern will break. I'm leaning towards an upside resolution of the pattern but might pass or just take a partial position for a trade if we get an upside breakout of the pattern as the FOMC decision on Wednesday is almost certain to cause a very fast rip or dip in both the US Dollar and gold.
GDX Symmetrical Triangle Breakout Pending
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