GDX has been consolidating (in the triangle so far) since start of May. IMO, it is holding up pretty well as it is still above 50 DMA and .236 Fib, so there appears to be no fear.
Will not be surprised if it tests 50 DMA and .236 Fib (and even .382 Fib), but if the red supports can hold, that will be a very bullish sign.
IMO Fed rate news are just noise. Trade the chart rather than news or emotions (unless day trading), and trade facts rather than speculations.
Will not be surprised if it tests 50 DMA and .236 Fib (and even .382 Fib), but if the red supports can hold, that will be a very bullish sign.
IMO Fed rate news are just noise. Trade the chart rather than news or emotions (unless day trading), and trade facts rather than speculations.