Loading ...GDX’s Date with $31
BIG H&S 9 month $26.25 bottom target, 0r minor H&S 3 month $31 target, or perhaps just the end of a Bull Flag ? $31 appears to be the confluence of several technicals. If the market is swooning when $31-$30 is hit, could hit $26.25 in sympathetic capitulation low, if the market is stable at $31, likely just the end of a bull flag.
Credit
https://seekingalpha.com/article/4407557-gold-stocks-retest-lows
GDX has seen three monthly OB conditions since 2016 (’16, ’19, ’20), on my two conditions.
The last one was July/August of last year.
The corrections off those highs struck the lower monthly bolly each time before reversing.
That would be 21 ish this time around.
My hunch — a bounce from this weekly OS condition, then more downside.