GDX held 27.8 and went back above 28.2. Even though still in the box, daily and weekly shows a good odds to continue upside move tomorrow and the day after. Did not see the golden 10ma weekly touch to load more. Control size though.
On weekly, it showed a bearish engulfing but supported by 5ma. If it does touched 10ma and showed reversal on 4h or daily chart, would be great chance to play long.
I think / hope there will be retest, use weekly 5ma and 10ma as place to watch.
Finally GDX showed some sign of exhaustion. Support below are 28.17, 27.8, 27.2 Above 28.9 can go higher.
Apparently my time off is not good and missed most of the crazy run last two days. So for tomorrow, if GDX gapped down and failed to close above 28.6 will make it a bit bearish on daily. Ideally we should see price supported by 28.13 and end up tomorrow with a long tail. Xau 4h printed a bearish engulfing. A little cautious and need to review again tmr...
Too many charts today..... Just wait and see how it develops.
If weekly closed outside of the lower BB, it seems to have a good odds to bounce in the next week or two.
I know it is 9 waves from the low. But if it holds 28.9 level, it is a gapper for me tomorrow.
Today's action is not bad. Still leaning towards upside b/o. Can buy or sell when outside of triangle.
Sp1 - 27.6 Sp2 - 27.5 Also watch TL and 1h cloud Above 28 can be fun.
More likely to the upside since weekly still above BB.
I know COT data is not friendly. But just short term.....