GDXJ – Nestled bullish formations
Starting with the big picture, GDXJ appears to be building out a massive 3+ year bullish inverted H&S pattern. Note the right shoulder appears to be constructing a nestled bullish H&S pattern – now 6 months in progress. This is typical price action within a bullish scenario:
Closing in on the last 6 months, we see yet another bullish formation – a cup & handle – as part of the right shoulder construction. Altogether, a very bullish scenario as a breakout of the smaller formations trigger breakouts of the larger.
Great Chats RTV
The “J” has been lagging , which is different
tx fully –
true, although that is probably also part of a right shoulder formation under construction for gdxj:gdx.
Double bullish !