$GDXJ to fall from here? $35 first, $20s next?
GDXJ looks to be rejecting at resistance here which could setup a large move lower. I know everyone wants to be bullish gold, but both commodities and equities are starting to look weak here.
I think we're about to see a false breakout of the falling wedge and a break back below it down to $35 as the first target, and potentially the $20 range after that.
Green lines mark support levels. Let's see what happens over the coming weeks/months.
I think we're about to see a false breakout of the falling wedge and a break back below it down to $35 as the first target, and potentially the $20 range after that.
Green lines mark support levels. Let's see what happens over the coming weeks/months.
Comment:
Here we go... first big red candle on the 1W. Once the $43 support breaks, it's going to get ugly.
Comment:
$35 tagged, let's see if we break lower now to the $30 or lower support levels.