tonyqs87
Short

correction after 5 waves

AMEX:GDX   VANECK VECTORS ETF TRUST GOLD MINERS ETF
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2
112 4
looking forward a correction in the trend
Hi, GDX break down the upward trend, how do you evaluate the situation ahead? was that valid breakout in later August?
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tonyqs87 lantao517
@lantao517, thanks for asking. GDX is heading down and decreased much more than it should be as a correction wave in the upward trend. The most concern I have is the US dollar which is awake and is becoming stronger. Accordingly, it will not be surprised for me GDX drops into the purple congestion area again. Hope this will help.
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lantao517 tonyqs87
@tonyqs87, GDX is near the support of 60DMA and 200DMA, if it break down to that area things will change dramatically, what a bull trap it was in late August...... seems like last breakout was a invalid and bull trap at all
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tonyqs87 lantao517
@lantao517, True. From Big picture, $25.50 could be the end of wave B. Now it is in the process of wave C.
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