Auguraltrader

GDX resumes its original path

AMEX:GDX   VANECK VECTORS ETF TRUST
A month ago, the GDX gapped up above the 55EMA to break a downtrending cycle. But it was not sustainable, as previously observed.

This week saw the concomitant plummet, alongside Gold , which closed the previous Gap Up with a Gap Down, bringing the week closure below the 55EMA. This is a failed breakout.
Technicals support this bearish turn of events, with the MACD and the Price Momentum crossing down.

The drivers for this downside move have been described previously...
Target 32-33 in Feb 2021.

Comments

I can see a "Double Tree" signal in this chart!
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out