GDX observations so far - mid-July 2015
Several neutral points to make about the Market Vectors Gold Miners ETF:
(1) July's volume has such low interest so far compared to other months; however, the month is not over yet. It could very well end in a hammer or a doji.
(2) The momentum of GDX on the MACD shows a potential for double bullish divergence. We can only wait and see.
(3) The RSI shows us that historical support is at 28 (the horizontal line - GREEN), but it is currently testing support at 34 (the diagonal line - GOLDEN line).
Forward-looking thoughts and scenarios:
(a) Waiting to see if this month ends in a hammer or doji
(b) If this month ends completely down, then I will watch price fall to the $14 to $13 range.
So, just watching....keeping an open-minded view on what will happen next.
(1) July's volume has such low interest so far compared to other months; however, the month is not over yet. It could very well end in a hammer or a doji.
(2) The momentum of GDX on the MACD shows a potential for double bullish divergence. We can only wait and see.
(3) The RSI shows us that historical support is at 28 (the horizontal line - GREEN), but it is currently testing support at 34 (the diagonal line - GOLDEN line).
Forward-looking thoughts and scenarios:
(a) Waiting to see if this month ends in a hammer or doji
(b) If this month ends completely down, then I will watch price fall to the $14 to $13 range.
So, just watching....keeping an open-minded view on what will happen next.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.