My view is a bit more bullish than North’s. I think at a minimum we get a run back up to this channel top which may turn out just to be a large bearish flag but it’s still a good trade if it works out. Best case I see a move back up to 200MA which is $18. Look at the divergences on North’s chart….and look how thin that zone is between $14 and $17.50 as shown on his price by volume bars. Call it a diamond bottom or W but this looks much better on the long side. JMHO.

Here’s my hourly:

GDX