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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: ajtj99 who wrote (85996)	8/30/2019 11:03:54 AM
From: ItsAllCyclical	Read Replies (2) \| Respond to of 99985

Would you be concerned at all regarding weekly candles on GDX and GDXJ? Yes both are resilient, but I think ST if we start heading thru 2940 and then 2950 on the S&P then we'll likely see a bigger pullback in gold/gold shares. I don't think anything huge, but on an intra-day basis we could have a bigger dip as sentiment is getting frothy. Silver has met my first ST objective as well. Both GDX and GDXJ have strong resistance at recent highs compared to 2016 run. Basing here till the Fed meeting is one possible scenario. (Sept 18th)