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Chart Chatter: $GDX

Welcome to Chart Chatter where we discuss various technical charts we find of interest. We cover indices, signals and stocks on different timeframes highlighting different technical techniques we use over time. We’ll focus on key observations we find relevant which readers may find of use for their own trading.

We do not present these charts as trade set-ups in this forum, but rather for discussion purposes. Feel free to add your thoughts in the comment section.

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Metals and miners in particular have been hammered in 2018.

Last week we noted a technical constellation that made a technical bounce play a good risk/reward set-up:

A falling wedge on a positive RSI divergence with a little bottom candle to boot.

Technical target for us is a 50MA reconnect. Note the MA is falling and $GDX will have to content with open gap fills.

Last we saw the wedge breakout retested and currently are seeing a bounce back to the open gap:

Open gaps and MA intersects will likely present technical resistance confluence.


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