GDX Bullish
GDX Daily Timeframe.
-GDX has successfully closed above the falling wedge pattern which has been formed since 6th August 2020. Thus, this would be a potential continuation of its major bullish trend.
-In smaller timeframe, both H4 & H1, GDX also formed a double bottom with the neckline in $35 price range.
-Bullish divergence is clearly presented in daily timeframe (MACD).
-The rising market uncertainty from Russia's invasion towards Ukraine affects investors and market makers to secure their money in safe haven assets such as gold and other commodities.'
-Overall view : Bullish with the following resistance in $40, $42 & $45.8
-GDX has successfully closed above the falling wedge pattern which has been formed since 6th August 2020. Thus, this would be a potential continuation of its major bullish trend.
-In smaller timeframe, both H4 & H1, GDX also formed a double bottom with the neckline in $35 price range.
-Bullish divergence is clearly presented in daily timeframe (MACD).
-The rising market uncertainty from Russia's invasion towards Ukraine affects investors and market makers to secure their money in safe haven assets such as gold and other commodities.'
-Overall view : Bullish with the following resistance in $40, $42 & $45.8
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