GDX: Nears Target @ 38

The last update on GDX, showed the projected forecast higher.

That’s exactly what happened.

Price action is just a little bit shy of the 38-area; next week may see continued move upward.

There’s also the possibility that was it.  Gold and miners may head lower from this point.

If GDX continues higher (to ~38) in counter-trend action, Fibonacci day 21 from the November 24th low, is next Wednesday, the 23rd.

Charts by StockCharts

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