The Gold Miners ETF, GDX, as expected, launched itself after a small recoil.
The Weekly chart key takeaway is that the MACD and RPM followed through, but better yet, this week saw the weekly candlestick to be in a rather bullish position, closing the week on a recent 9-month high.
Fibonacci projections bring a 47.50 upside target in the following weeks.
The Daily chart confirms the bullish indications similarly. Having bounced off an intermediate support, the technicals are turning bullish again as the strong close for the last day of the week encourages a breakout above 40.
The Weekly chart key takeaway is that the MACD and RPM followed through, but better yet, this week saw the weekly candlestick to be in a rather bullish position, closing the week on a recent 9-month high.
Fibonacci projections bring a 47.50 upside target in the following weeks.
The Daily chart confirms the bullish indications similarly. Having bounced off an intermediate support, the technicals are turning bullish again as the strong close for the last day of the week encourages a breakout above 40.
