Tuesday, January 6, 2015
GDX at $20
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.