CosmicDust

GDX update - bearish - 3/6/2015

AMEX:GDX   VanEck Gold Miners ETF
gdx
Lost 2 important supports (blue line and blue channel), and the red support may come into play in coming days. Before today's gap down, yesterday was a warning day because of the breach of the blue channel. But admittedly, it was deceptive as if the blue support line may hold.

If red support can hold, it may test the pink resistance. Otherwise "bear's flag" pattern maybe in play and another leg down is quite possible.
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