649bruno
Short

GDX Update: Trend Bearish On Four Hour Chart

AMEX:GDX   VANECK VECTORS GOLD MINERS ETF
30 0 5
I have been publishing daily charts for-GDX.
This is a four hour perspective. A shorter time "snapshot" for you to review.
Negatives:
There is a well defined down-trend channel.
The top middle indicator is a 13 interval average of phase energy (lower top), and this is sagging.
The top indicator is 34 interval momentum indicator for-GDX, and this is sagging.
Chop (below chart) is in the shaded area, and chop zone is red, which indicates downward prices.
Prices are sagging below the Ichimoku Cloud .
The Ichimoku Cloud has a red border.
My conclusions for this four hour chart are the same as for the daily chart , lower price action for-GDX.
I wish you well in all of your trades. Don.
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