themarketzone
Short

Shooting start pattern - A close below 30$ will confirm reversal

AMEX:GDX   VANECK VECTORS GOLD MINERS ETF
Yesterday's shooting star pattern may signal the exhaustion of $GDX current uptrend.
The price right now is above a rising Wedge pattern and above the Fast SMA line so it is still strong buy a close below 30$ can change things.
Notice that bearish divergence in RSI that support the exhaustion option.

Tomer, The MarketZone
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Comment: Critical day for Gold with NFP - Stronger Dollar should support this bearish setup
Comment: https://www.youtube.com/watch?v=KN-GKtTBRa0
Comment: Nice progress today as GDX breaks below the 50 MA line
Comment: GDX hits short term target zone
Trade closed: target reached
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