GDX
looking at lower demand during rally due to a lack of volume, showing that smart money is not interested in propping the market up in the shorter term. as prices approach key supply zone.
1)Possible consolidation and profit taking happening
2)Renewed strength to break out of that level
For now just no action and observing the market.
Comment:
No involvement from smart money to push the price higher, might be a downward drift before retest of that zone.
Comment:
on point for hitting the supply zone, currently looking at it to test new high to see if theres demand in the market. Possible trigger of stops if MM intend to take the price downwards