GDX HAS COILED ENERGY

30 thg 7, 2021

The metals have been stuck in a range for quite a while. Gold Miners ETF (GDX) appears to have made 5 waves up since the crash in 2020 and formed an ongoing complex correction. What do you think? Has GDX bottomed? Take note of the lower stoch/rsi wavetrend indicator and the broadening nature that has occurred since this correction. This looks like a hidden bearish pattern that will eventually break. When it breaks, GDX is likely to move up incredibly strong. Perhaps one more push lower? I don't know... But I'll be ready if it drops again.

For me, I have some medium-longer term targets over 55-60.