CosmicDust

GDX weekly - possible consolidating area - 7/2/2016

AMEX:GDX   VANECK VECTORS GOLD MINERS ETF
gdx
75 0 5
gdx
GDX             was on fire recently and apparently this kind of vertical move is not sustainable. I marked the possible consolidating area in orange (it should and healthy). Because of the strong trend the pullback may or may not happen. Any pullback or continued breakout is a buying opportunity IMO, and chance is good it will challenge the red resistance area ($38 ~ $42) sooner or later.
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