GDX potential W-support
A bullish crab is enveloping GDX prices with a target tip at 12.72. An intermediate pivot-support S1 of 13.16 is also a good candidate for the decline termination. If these values manage to hold the selling pressure, then there is a good chance of a very reliable Eve-Adam W-support pattern forming, which could in essence lead into a bear to bull cycle transformation. A failure of these prices to prevent the ending of the downtrend , would lead to a final support probably around 8 to 10.
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