GDX daily Jan 8th
Price targets have now been added to the GDX (Market Vectors Gold Miners ETF) long trade idea. Although one could certainly start scaling in now as $GOLD recently came within basis points of my weekly downside target/buy point, an official entry on the GDX setup will come on a break above both the bullish falling wedge pattern AND the 22.40 resistance level (which currently sits just above the pattern). The first price target (T1) will be the yellow primary downtrend line. T2 is defined by a resistance zone which runs from about 26.30-26.90. The final target at this time is T3 at 30.94. The live, updated GDX chart can be viewed on the Live Chart Links page or by clicking here.