It has been many fake outs, but yet again, the GDX is attempting to break out, one that starts with a nice long bullish marubozu type of candle on both the weekly and daily chart.
The weekly chart had a gap and run marubozu, with MACD turning upwards but not yet in bullish territory, nor clear of the 55EMA.
The daily chart had a decent long bullish candle that is supported by the technical indicators.
What needs to happen over the following week is a proper breakout and sustaining above resistance turned support levels.
The weekly chart had a gap and run marubozu, with MACD turning upwards but not yet in bullish territory, nor clear of the 55EMA.
The daily chart had a decent long bullish candle that is supported by the technical indicators.
What needs to happen over the following week is a proper breakout and sustaining above resistance turned support levels.
