Attached: GDX Daily Chart as of 7th April 2023
Price has given a Classic Cup & Handle Breakout Buy Signal on the Charts
What do Technical Indicators say on the Daily Chart?
- RSI is in overbought zone ( > 70) and confirming a Bullish Regime✅
- MACD is trending up and in buy mode, confirming Momentum✅
- DMI is in buy mode and ADX is above 25, confirming a Strong...
GDX (VanEck Gold Miners ETF)
Attached: Monthly Chart as of 7th April 2023
(Technical Analysis self explanatory as annotated✍️ in the Chart)
T1= 40 +
T2= 60 +
SL is Not Needed but just for the sake of it one can keep it below Last Month's (March) Candle Low so < 26.50
Upside Potential is...
There has been price squeeze in GDX for quite sometime.
It appears that either this price squeeze is complete or
getting close to completion.
Trading idea - Buy GDX at cmp (21.80), stop loss 18.68, target 27.42