Risk vs Reward alert is good here as long as the support zone holds.
GDX broke out of the down trend line / resistance zone, and pulling back to test the zone again.
In EW cycles, GDX looks to be forming micro 3 - 4.
GDX broke out of the down trend line / resistance zone, and pulling back to test the zone again.
In EW cycles, GDX looks to be forming micro 3 - 4.
Note
In Diagonal, GDX needs to move up and retrace back down (1-2) before taking off. Still a long way to go before we can be confident.Note
Nice up movement today.Note
XAUUSD is up nicely. GDX is lagging but made a new higher high.Note
GOLD chart for referenceNote
Trimming my position here
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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.