I think the GDX rally is done too.
All the indicators are showing divergencies in GDX.
It rallied almost to the 2016 highs...
We will get a pinbar ( inverted hammer or shooting star ) on the weekly chart.
The weekly chart's indicators need to tag the oversold territory in this decline.
It might close the gap at 24 -24.56 or might test breakout at 23.67$.
All the indicators are showing divergencies in GDX.
It rallied almost to the 2016 highs...
We will get a pinbar ( inverted hammer or shooting star ) on the weekly chart.
The weekly chart's indicators need to tag the oversold territory in this decline.
It might close the gap at 24 -24.56 or might test breakout at 23.67$.
Comment:
Broke down the trendline today. If it stays there into the close more selling will come on Monday.
Comment:
After today's big bounce we are closing in the red. Big guys dumped their shares to the small guys. I hope nobody bought the fake rally today.
Trade closed manually:
Comment:
Just in case if it turns out to be a double bottom
