GDX had a divergent high intraday and filled that open gap from
early Oct - reversed down and has now filled Tuesday's gap. Also
note the declining 50 day MA which hadn't been tested in
awhile..you normally get a pull on the first test. The FOMC served
as the catalyst for selling with Dec rate hike still on table. It
was all on the charts for a pullback.
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
GDX had a divergent high
GDX and GDXJ and all the precious metal equities
Posted by steve on 2nd of Nov 2016 at 03:43 pm
GDX had a divergent high intraday and filled that open gap from early Oct - reversed down and has now filled Tuesday's gap. Also note the declining 50 day MA which hadn't been tested in awhile..you normally get a pull on the first test. The FOMC served as the catalyst for selling with Dec rate hike still on table. It was all on the charts for a pullback.