Tuesday, January 6, 2015

GDX at $20


Well:


At this price, a TA would probably predict that GDX backs off from $20. $20 was resistance in late November, it was the breakdown in late October, and it's the +2SD line right now.

So since it's such a big-deal technical signal and all, maybe GDX gets sold off from here. Because people trade based on technical signals.

But if so, it gives latecomers to the Jan-Feb miners pop party a chance to buy back in.

We'll see what actually happens.


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