GDXJ is showing some nice bullish divergence in the pennant of a bull flag on the 4hr and daily RSI. Upside is 30%+ and if it breaks down below the lows of the flag it'd be time to get out.
This is obviously dependent on what Gold spot price does. So, if XAU decides to finally use that hidden bullish divergence to head to all-time highs, then gold miners are gonna feast too. Playing the odds.
This is obviously dependent on what Gold spot price does. So, if XAU decides to finally use that hidden bullish divergence to head to all-time highs, then gold miners are gonna feast too. Playing the odds.
Comment:
GDXJ is attempting a breakout of the pennant. If it succeeds, there is 30+% upside. I'm fully allocated to precious metal miners.
Comment:
GDXJ got rekt today. Met that resistance at $51.10 and immediately met supply. Not looking too good now. If we get a higher low above $46.27 then there will be hidden bullish divergence on the RSI and the MACD. So, I'm holding until there's a reason to exit.