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


To: ItsAllCyclical who wrote (86002)8/30/2019 11:11:57 AM
From: ajtj99  Respond to of 99985
 
GDXJ doesn't have much in the way until $49.59 once above the $42.79 area that was breached this week:

schrts.co

Ideally you would want something like a weekly close above $42.79 to cement that upper box range as the new range.



To: ItsAllCyclical who wrote (86002)8/30/2019 11:16:52 AM
From: ajtj99  Respond to of 99985
 
GDX is the bigger problem here. It has strong overhead resistance in the $31.79 to $32.76 band, so the worst case scenario for GDXJ here is if it becomes subordinate to GDX's overhead resistance, IMO. I don't know enough about how these issues usually relate to each other to know if that could play out.