Potential Short Term Bottom in GDX
Started by
kssmibotm
, Jul 17 2015 02:37 PM
No replies to this topic
#1
kssmibotm
-
- Traders-Talk User
- 653 posts
Member
Posted 17 July 2015 - 02:37 PM
GDX has been in a well defined channel since mid 2013. The index is fast approaching the bottom end of that channel around 15-ish. Also, note the bullish divergences in MACD and RSI that have been building since 2013. I plan to initiate a small position in NUGT if the channel is touched or broken. I will add to the position once price confirms a short term bottom is in. I closed my position in DUST today from 16 and change.
People think the Holy Grail is something looked for but never found. In fact, it is something often found but rarely recognized.
