goodguy
Long

GDX: Is the correction over in the gold mining section??

AMEX:GDX   VANECK VECTORS GOLD MINERS ETF
170 3 6
There has been a near .62 correction in the recent rise earlier this year (see 2 hour chart) and price appears to have bounced up off a potential "resistance becomes support" line. On the 2 hour chart the recent down action also has reached the downside of the channel. The daily RSI shows a positive reversal followed by a bullish divergence which as I have mentioned before often precedes a reversal.
Process through your own approach. Hope this is helpful. Feedback + or - always appreciated.
DavidBelleFX
17 days ago