GDX found some buyers around its open gap below and is
bouncing...must now take back its 9/20 moving averages (for
starters) to sustain a move upward. There is an open gap just above
as well to monitor.
as a follow up to Steve's post, here's a 60 min chart of GDX
which shows the gap fill, but GDX also basically bounced off the
50% Fib retracement, and measured move of the pattern.
GDX Daily View
Posted by steve on 25th of Jun 2012 at 01:38 pm
GDX - Chart Link
GDX found some buyers around its open gap below and is bouncing...must now take back its 9/20 moving averages (for starters) to sustain a move upward. There is an open gap just above as well to monitor.
as a follow up to
Posted by matt on 25th of Jun 2012 at 01:47 pm
as a follow up to Steve's post, here's a 60 min chart of GDX which shows the gap fill, but GDX also basically bounced off the 50% Fib retracement, and measured move of the pattern.
if gold breaks through its
Posted by harshblue on 25th of Jun 2012 at 01:53 pm
if gold breaks through its support, do you still think GDX will hold up?
harshblue - if that happens
Posted by steve on 25th of Jun 2012 at 01:54 pm
harshblue - if that happens I expect GDX to get hit as well.