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GDX Indicated to Gap Near First Price Target

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

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.

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May 17, 2017 9:07am|Categories: Completed Trades - Long, Gold & Commodities|Tags: |0 Comments

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