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AwareBear

GDX DAILY CHART -- MINERS BREAKOUT, CASH WONT BE KING FOR LONG

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VanEck Gold Miners ETF (AMEX:GDX)  
AwareBear  
AMEX:GDX   VanEck Gold Miners ETF
Gold goldtrading goldstocks goldidea goldusd goldbugs gold_us goldlong XAUUSD xau_usd xauusdlong XAU miner miningstocks LONG shortterm GDX GDXJ silverlong Silver
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gold goldtrading goldstocks goldidea goldusd goldbugs gold_us goldlong xauusd xau_usd xauusdlong xau miner miningstocks long shortterm gdx gdxj silverlong silver
With all the NIRP's and ZIRP's flying around in an economy based off fraud and debt, this was expected, and now we have the start of the technical indicators to back it up :)

I was expecting it to retrace down to the 17 area to "fill the gap"
Instead it created a bull flag / pennant , and then in 3 days , broke out of our channel and above price action
All very bullish signs, even with the 50 and 200 ma quite far behind
Tomorrow (April 12th) I will be looking for a retracement of 22.16, which if it can hold, is where I buy more miners
- If it doesn't retrace at all I will simply buy in before the day ends, as I'm a firm believer in price action

Feel free to comment with questions or ideas :)

Happy Trading!

Idea Berkaitan

AwareBear
GDX WEEKLY CHART -- MINERS BREAKOUT, CASH WONT BE KING FOR LONG
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