Two weeks ago, a break above 40 was expected, and it just closed the week above 40, in good fashion if I may say so.
The weekly GDX chart followed the previous week's long tailed doji and gapped up, ending near the week's high, with yet another lower tail. Bullish candlestick structure here. Technical RPM indicator is supportive of the momentum, although the MACD expects more.
The daily GDX chart is consistent with a continuing uptrend rally, with higher highs and higher lows. Technically supportive, both the RPM and MACD are crossed up and trending bullishly.
47.50 upside target in sight as projected previously.
The weekly GDX chart followed the previous week's long tailed doji and gapped up, ending near the week's high, with yet another lower tail. Bullish candlestick structure here. Technical RPM indicator is supportive of the momentum, although the MACD expects more.
The daily GDX chart is consistent with a continuing uptrend rally, with higher highs and higher lows. Technically supportive, both the RPM and MACD are crossed up and trending bullishly.
47.50 upside target in sight as projected previously.
