GDX -Waiting for a buy setup

850
We are getting closer and closer to an important buying opportunity in gold miners.
Though yesterday we almost tagged the 200 SMA and bounced I still don't see that buying opportunity what i like to see at the gold miners bottom.

At the beginning of today's trading we broke above yesterday's high which is usually a buy signal but after a few hours of trading we gave back all the gains and closed in the red.
I think we are quite close to the bottom in days - 4-5 days only - but these last few days can be extremely scary as we print the cycle lows.

First of all I dont see the volume spike what usually occurs at these intermediate bottoms:

ảnh chụp nhanh

The other thing that we stiill have a gap between 20.5 and 20.8 which pulling down price like a magnet:
ảnh chụp nhanh

Today was the 5th day since we broke below an important level at 21.41 and usually these breakdowns lasting for 7-8 trading days:

ảnh chụp nhanh
Today was day 5 of the breakdown.

So I would wait with the buying till next week in the miners as we might have 3-4 red days ahead in the upcomong trading sessions.

Thông báo miễn trừ trách nhiệm

Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.