GDX (Gold Miners ETF) looks poised to rally on a break above this 60-minute minor downtrend line/descending triangle pattern PLUS a breakout above 113.85 on GLD (Gold ETF). GDX may soon be added as an official long swing trade idea but I wanted to get these charts out in advance & also as member @dpatel had requested an update on the precious metals & miners in the trading room.

60-minute charts of GDX & GLD posted above. The daily charts of GLD, SLV & GDX along with some additional comments can be view in Thursday’s post titled US Dollar, Gold, Silver, GDX & Marijuana Stocks (click here to view).