Shooting start pattern - A close below 30$ will confirm reversal
Yesterday's shooting star pattern may signal the exhaustion of $GDX current uptrend.
The price right now is above a rising Wedge pattern and above the Fast SMA line so it is still strong buy a close below 30$ can change things.
Notice that bearish divergence in RSI that support the exhaustion option.
Tomer, The MarketZone
www.themarketzone.net/
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The price right now is above a rising Wedge pattern and above the Fast SMA line so it is still strong buy a close below 30$ can change things.
Notice that bearish divergence in RSI that support the exhaustion option.
Tomer, The MarketZone
www.themarketzone.net/
Follow my blog - marketzone.tumblr.com/
Subscribe to my Youtube channel - www.youtube.com/c/TheMarketZoneNet
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Critical day for Gold with NFP - Stronger Dollar should support this bearish setup
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Nice progress today as GDX breaks below the 50 MA line
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GDX hits short term target zone
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