One Failed Move, After Another

If it’s not working, get out or change sides.

For Junior Miners GDXJ, it’s the bullish case that’s not working.

But wait! What about ‘inflation’?

Here’s just one example of where the so-called ‘inflation’ is coming from: supply disruption and destruction.

Junior Gold Miners GDXJ, Weekly

As this post said, few things get more attention on The Street, than a failed move.

The chart shows at least three potential bullish set-ups that have failed.

Fail, fail, fail; what do we think GDXJ, will do at Monday’s open. Are we going higher?

Well, anything can happen; there’s a gap on the daily chart that could be filled. 

However, posting lower levels might be just getting started (not advice, not a recommendation).

Depending on Monday’s action we may have confirmation of a downside trend and channel.

More on that at the next update.

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.