Testing The Right-Side
It’s a good thing we’re not listening to the ‘inflation’ narrative, just like we didn’t listen to ‘The Speck’ narrative of the past few years.
Turns out, ‘The Speck‘ was just the re-branded, common flu.
Inflation or Deflation
One has to wonder if the mainstream will ever acknowledge we’re in a deflation impulse.
The ‘inflation’ we’re seeing is (potentially) more associated with supply, product, and population destruction than any ‘money printing’ (not advice, not a recommendation).
As ‘Winston’ says at this link (time stamp (1:21:48),
‘People are allergic to the truth.’
The truth for the day, concerning the Junior Mining Index GDXJ, is that we’re testing the right-side trend line, the supply side.
Junior Miners GDXJ, Daily Candle
Today’s price action is technically a ‘Key reversal’.
As such, the typical response is continuation to the upside during the coming days and or weeks.
Key reversals are not perfect and at times, will fail.
The important session for GDXJ, is tomorrow, Friday.
Continued upside most likely results in exit of short positions (not advice, not a recommendation).
Stay Tuned
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