oryx80

GDX still in a uptrend

Long
AMEX:GDX   VanEck Gold Miners ETF
Technically, the broad PMs sector still look very bullish on the longer run, with the next support on the weekly MA50 and on the falling wedge VPVR, with the next target around 46$. We might find bottom and get ready for a rebound to the previous top in the early summertime. It will coincide with the LME trading desk stopping its activities in junes (like spoofing the PMs?) and around the same time the DXY might be reaching its previous resistance. Short time pain, thats about it...
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