We Might Know Soon

The last update thought we’d have a gap-higher open in the miners GDXJ.

Well, we got more than that 🙂

The chart at this link shows the action for the corresponding gold contract.

Commodity bull moves typically end with a blow-off spike higher. Is that what we got today? (not advice, not a recommendation).

Full article is here.

With that let’s look at the miners.

Junior Miners, GDXJ, Daily

Price action formed a ‘spring’ towards the end of last year.

Whether or not we have repeating pattern, ‘up-thrust’, is unknown.

It’s important to note, gold is now over (approx.) $1,100/oz., above the level it was when this post was released.

Even with today’s action, the Junior Miners are still (well) below the price level for GDXJ, shown in that update, four years ago.

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.

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