GDX WEEKLY CHART -- MINERS BREAKOUT, CASH WONT BE KING FOR LONGWith all the NIRP's and ZIRP's flying around in an economy based off fraud and debt, this was expected, and now we have the start of the technical indicators to back it up :)
My target area Short Term is 25-28:
- We have the 23% fib retracement from our move down from our All Time Highs in 2011.
- Weekly 200 ma
- Solid price action (horizontal black lines)
- Broke out of our channel to the upside that start in June 2013
-- If tomorrow (April 12th) holds above this channel, that's when I shoot my final bullet
- The top of our bigger channel is in this area
Feel free to comment with questions or ideas :)
Happy Trading!
