Wolf Wave on GDX is looking good. Would like to see a little overshoot to the downside which would be normal. Trigger line cross on CCI… nice divergence. Note EWO price divergence which is bullish…. Chart is not quite a buy if you are bold. Need to confirm uptrend with trigger line crosses of RSI(5) and SlowSTO. In fact I wouldn’t take a trade until trigger line cross on SlowSTO. Nice divergence on RSI(13) and ULT developing…<\/p>\n
Bottom line: it looks as though finally we’re getting to the bottom for a (iii). ABC up to (iv). Note targets. If everything holds up (i.e., Gold, market) then we might make it to the 38.2% retrace. We could even go higher but for this degree wave iv would be unusual….<\/p>\n
Per Armstrong:<\/p>\n
If we hold 1084 for the weekly closing, then we can see a two week bounce and everyone will proclaim the low, so hurry up and buy more. If we close below these numbers, then we can see a two week panic to the downside and a test of the 1980 high. If that unfolds, then the latter target may be further down.<\/p>\n
Wolf Wave on GDX is looking good. Would like to see a little overshoot to the downside which would be normal. Trigger line cross on CCI… nice divergence. Note EWO price divergence which is bullish…. Chart is not quite a … Continue reading ![\"0723_GDXUpdate\"](\"http:\/\/goldtadise.com\/wp-content\/uploads\/2015\/07\/0723_GDXUpdate.png\")
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