Gold & the precious metal mining stocks are at resistance while overbought on the near-term time frames while the US Dollar looks poised for a bounce. As such, the odds for a pullback or correction in GLD & GDX are quite elevated at this time. This video starts with an overview of the two largest components of the US Dollar Index, the Euro & Yen, both of which indicate that the recent rally in the dollar which has been the primary driving force behind the recent rally in gold, may soon be over. From there, the charts of GLD & GDX on both the intraday & daily time frames are covered.
Trend Reversal in GLD, GDX & US Dollar Likely
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