Wednesday, July 5, 2017

GDX Under Pressure

The Trump Range must hold!

GDX has paralleled the recent Gold breakdown, and further declines are almost certain; however, this dark side will turn much brighter if its potential E-Breakout pattern indeed prevails, esp. after closing the December gap.  FOMC minutes later today!

As the culmination of a long term E-Build, such an upside thrust could well ignite GDX to levels not seen in over 4 years.  Per Bill Meridian, on Larry Pesavento's show this morning, Friday may mark important turning points in many markets.  Gold's seasonal pattern augments this thinking.

On dark days seek light.
On bright days, shade.

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