GDX started showing a lot of positive RSI divergence today, even
on the 30 and 60 min. charts. It found support as I
discussed earlier, at the April lows between 45.5 and 46 (at
45.88). It's at 47 1/2 now, would like to see it get above
48 to break out of the downtrending channels on the 30 and 60 min.
charts. Today's spike down, even with the subsequent rally,
only extended the bullish wedge on the daily chart, and it still
hasn't got above 20 on the 60, 3 slow stochastics on Matt &
Steve's GDX 15 min. dynamic stockchart.
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
gdx found support
EWA v GDX
Posted by sonia on 21st of May 2010 at 11:10 am
GDX started showing a lot of positive RSI divergence today, even on the 30 and 60 min. charts. It found support as I discussed earlier, at the April lows between 45.5 and 46 (at 45.88). It's at 47 1/2 now, would like to see it get above 48 to break out of the downtrending channels on the 30 and 60 min. charts. Today's spike down, even with the subsequent rally, only extended the bullish wedge on the daily chart, and it still hasn't got above 20 on the 60, 3 slow stochastics on Matt & Steve's GDX 15 min. dynamic stockchart.