Wednesday, October 19, 2016

Just To Re-Hash The Move In Gold Miners (GDX), But I Did Call This A Week Ago

I have re-posted the article by Tim Knight from Slope of Hope, but in fairness to my permanently shattered ego I did post this exact scenario a week ago (it's just very nice someone agrees with me). Anyway, the divergence on the RSI(5) is complete and there is a gap to fill between $25.00 and $25.50. I've drawn in some interesting overhead resistance areas to keep an eye on, but you can precariously play this as an intermittent long/buy before converting to a short/sell somewhere are around $25.60.