Push Above Resistance … Then Stop

As of this post (12:35 p.m., EST), the miners GDXJ, have pushed above resistance area noted in yesterday’s update

Then, they stalled.

With a backdrop of gold in the news incessantly, is there a short trade at this juncture?

Whether or not this is the place to make the bet remains to be seen. However, what we can see, is a push above resistance (Wyckoff Up-Thrust) and a narrow range bar.

That means short-side risk has been reduced (not advice, not a recommendation).

Positioning

Short initiated via JDST, as JDST-25-03, with stop at the session low, currently JDST 19.93 (not advice, not a recommendation).

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