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GDX Breakdown, Correction Likely Underway

GDX (gold miners ETF) has now broken down below the 60-minute trendline that was posted earlier with impulsive selling confirming the breakdown. GDX is now testing the 23.38 support level with an imminent breakdown of that level likely. First target zone remains 23.00-23.12 with the possibility of a continued move down to the 22.23-22.32 area [...]

GDX Poised for Pullback

GDX (gold miners ETF) appears poised for a pullback with a sell signal to come on a break below this uptrend line & the 23.35ish level. The most likely target is the support zone that runs from about 23.00 to 23.12 with the possibility of a deeper correction back down to the 22.23-22.32 area. 60-minute [...]

Jan 3, 2018 11:45am|Categories: Gold & Commodities|Tags: , , , , , |0 Comments