MoneyPatterns
Long

GDX – Turned Bullish on Daily - $32 Price Target

AMEX:GDX   VANECK VECTORS ETF TRUST GOLD MINERS ETF
Chart Details
Price on Daily keeping yellow support. Best entry would be close to yellow support (on pullback).
Bullish price action – higher highs and higher lows daily.
Gaps to fill up to $37.
Conservative price target of $32 to fill first gap.
RSI channel is our guide to enter or exit until channel guides are violated.

Opinion
I had three hedges for market downturn in play, instead of taking specific bearish plays on SPY for example.
GDX , SCO , and SPXS have all been good hedges when purchased at correct time (market ATH's with weekly RSI over 80-85)
With coronavirus, oil conflicts, Iran, market overpriced, negative interest....yada yada...there are a number of bubbles or events ready to pop.

About Me
https://www.moneypatterns.com
Options Strategies, Video Technical Analysis , Instant Alerts, Specific Options Order Entry Details, Daily Updates, Equities & Crypto, Weekly Breakdowns, Charting Service, & More in Members Area!
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I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts and on https://www.moneypatterns.com

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