Weekly chart long term trending line, bullish channel going on last few months. Just what Im seeing. Bullish channel backtest? Guess we will see. $GDXJ $GDX $NUGT $JNUG
I see a negated trend line and a broken upper resistance line now acting as support
due to the back test and now an up move... should be heading to structural resistance area.
But as always time will show
Safe trading ladies and gent!s!
BM
Junior Gold Miners ETF have been bitten up or rather down for the last 3 years.
In this process it has completed a huge ABCD at the purple line in 32.44.
At the end it has created a smaller shs pattern.... but target hasn't been reached so far at yellow line 15.75 (lowest is red line 28.97) and neckline is now being challenged. Is it a backtest or .....?...
Upcoming demand, write downs in the rearview, terrible sentiment on raw good and industry, low risk given sitting on lows... I'll hold here for a few quarters barring a sudden drop below 30
Upcoming demand, writedowns in the rearview, terrible sentiment on raw good and industry, low risk given sitting on lows... I'll hold here for a few quarters barring a sudden drop below 30
