Miners have started their fall into a ICL. This should complete the Shark pattern and move down into the $21 area. I would expect a blast lower than the May low to complete the failed DC.
Note
As gold moves down towards 1243 it should find support, perhaps we get a bounce but the trend will continue lower. The 1220-1230 should be reached at 78.6% fibo. We could go lower.Note
On Target for 1203Note
Pattern complete, BUT, could continue lower from here. Tighten stops to protect your profits. Note
ICL coming soon to miners. Target lower trend line or just below to enter GDX.Note
Target was reached in DUST, you should be out of the short trade.Note
Resistance for Gold at 1260. Long term trend line converges at previous top. A break above will bring a lot of traders in. Note
Target one approaching for GDX
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.