This is a MASSIVE Monthly BULL FLAG (Blue). After breaking down this massive trend channel GDX has recovered and is now breaking back into the huge UPTREND Price channel while MACD is remaining above ZERO.
I realize the month is not over yet but when you are struggling to find places to put your money when the stock market is retracing this would be my next...
In this update we review the price action and options flow dynamics and identify the next high probability trading opportunity and the price objectives to target.
GDXJ bull flagging. Measured move up to 75.
Current position: Long
Disclaimer: These should be seen as the commentator's Notes to Self. Hopefully educational but aiming for entertaining. No legal or financial liabilities should be pursued from these materials.
GDXJ has confirmed the Rectangle pattern for nearly a decade, targeting towards the region of $90 (+-$5), it
could also alarm an economic instability in the next 1-2 years.
GDXJ buy : $57
GDXJ Target : $90 (+-$5)
Stop loss : 12% .
Note that this transaction takes a long time, expected 10 -12 months to reach the target, the fastest is 5 months.
Wish you good...
