The is just one study that shows the current GDX down trend is approaching an end.
The reason I choose TMV is simply because it is leveraged, a closer comparable to that miners are leveraged position of gold price. I understand there are reasons people don't like using the leverage ETFs, but this is only for ...
This is a volatile one. After a standard 5 wave down, a 3 wave counter-trend rally is unfolding. There is still some room to play for the upside. A conservative strategy would be waiting for the 3 wave done and playing the C leg.
Will follow up later.
After a 5 up and 3 down and other 5 small wave up, we could be approaching the end of minor wave 1 of the 3 or C. Additionally, the chart also shows a HS pattern.
High probability trade with well defined risk.
After a long time of consolidation, BABA finally wakes up and resumes the up trend, at least, currently.
The current 3rd wave is targeting to $107 area but we need to wait for further signal to confirm whether this is a Big FLAT or truly back to the up trend.