Gold Miners Could Decline 30% If This Happens…

Sharing is Caring!

by Chris Kimble

This chart comes from Marketsmith.com, which looks at Junior Gold Miners ETF (GDXJ).

This chart highlights that GDXJ could be creating a bearish descending triangle over the past 10-months at (1).

See also  Rand Paul: Gen. Milley calls to China could’ve caused accidental WAR

Currently, GDXJ is testing an important support line at (2).

Joe Friday Just The Facts Ma’am: If support breaks at (2), the measured move suggests that it could fall to test support at (3), which is nearly 30% below current prices.

See also  Obama: "if I could make an arrangement where I had a front man doing all the talking..."

GDXJ bulls want/need to see support hold at (3)!

 

348 views

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.