GDX has started a normal retrace withing the past few
minutes. Anyone willing to venture a guess as to how far it
will pull back before resuming its upward climb?
keith -
as far as GDX pulling back, if it's a wave 2 or wave B, those can
retrace quite a bit such as 50% - 62%
however refer to my 60 min
chart as well, if it forms a RS on a pullback, really I wouldn't
want to see it go much below the LS low of 41 in order form a RSI
of an Inv H&S pattern
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GDX Pullback
BPGDM system switches back to a buy signal
Posted by keithw on 22nd of May 2012 at 11:10 am
GDX has started a normal retrace withing the past few minutes. Anyone willing to venture a guess as to how far it will pull back before resuming its upward climb?
TIA
Keith
keith - as far as GDX
Posted by matt on 22nd of May 2012 at 12:50 pm
keith - as far as GDX pulling back, if it's a wave 2 or wave B, those can retrace quite a bit such as 50% - 62%
however refer to my 60 min chart as well, if it forms a RS on a pullback, really I wouldn't want to see it go much below the LS low of 41 in order form a RSI of an Inv H&S pattern