Juniors/Large producers ratio put a piercing line candle yesterday in the daily (not shown), right at the last weekly support/demand zone.
If confirmed, might be a good signal that Gold has a chance to go higher like the last time it happened and fight the outside weekly reversal which is an ominous sign on its own.
A close above 1,52 in the ratio will be good...
Coincidence Top BB is aligned with long-term 23% Fib line? Week ended on the weekly 20MA. Bearish hammer but elevated off both trendlines. Truly could be a bordem shake out before a large run higher. Watching trendlines for support and Fibs for resistance.
As a short-term swing trade, I am shorting GDXJ by purchasing JDST.
It closed below the red channel and has a potential downside target to fill gap.
This is going against the trend (above 100-MA), so use half position.
GDXJ has not finished it's bear market correction just yet.
If we get time and price together, long from there for a new high over recent $44.60.
Look at the Fibonacci price cluster in mid $38's and also mid-$36's. Those are like magnets in a pullback.
Combine that with a Fibonacci Time Extension and that gives us time + price.
Should GDXJ lose the $40...
