The GDX (Gold Miners ETF) long swing trade is currently indicated to gap up at the open, with GDX trading as high as 23.44 so far today in the pre-market session. Shortly after the GDX swing trade entry was posted on Monday, the price targets were added to the comments section below that post & can be viewed on this 60-minute chart (prices as of yesterday’s close).
GDX 60-minute May 16th close
Once again, I remain open to the possibility to allow this trade to morph into a longer-term trend trade with additional price targets to be added, depending on how the charts of gold & the US Dollar Index develop going forward. If so, stops will be raised to at least the entry price, possibly higher, to assure a breakeven or profit on the trade.
On an administrative note, I will be away from my desk from around 9:30 – 11:30am today (possibly tomorrow as well), responding to any questions when I return. I will also be out of the office all day this Friday.