Price Action Itself, Defines The Levels

It’s time for an ‘adjustment’ to the trading channel identified in the prior update.

The Juniors GDXJ, are still in a downtrend.

Last Friday, they hit and retraced from the (adjusted) right side trading channel shown below.

The weekly MACD histogram (not shown) remains in a bearish divergence, indicating probabilities still favor the downside.

Price action will have to decisively break the downtrend to negate the bearish potential.

Junior Miners GDXJ, Daily Candle

From a trading perspective, existing short positions were closed out this past Friday and then re-established (partially) towards the end of the session (not advice, not a recommendation).

Dollar Death … Not Yet

Just like the A.I. propaganda, it’s popular to get hysterical about ‘de-dollarization’.

Two perspectives that are not part of the crowd are here and here.

They give a more sober look at what is really happening on a world-wide, dollar basis.

Stay Tuned

Charts by StockCharts

Note:  Posts on this site are for education purposes only.  They provide one firm’s insight on the markets.  Not investment advice.  See additional disclaimer here.

The Danger Point®, trade mark: No. 6,505,279