On OPEX Friday, just like the GDX price, the GDX MF retraced almost 50% of Thursday’s move. It is statistically 1 day away from a potential sell signal and the GDX robot would exit the position at the next open if the MF closes below 0%.
GDX closed right on the 50-day moving average (54.17) and the new Weekly pivot (54.06) which should act as a good support confluence to keep a favorable technical outlook today.
The resistance clusters are strong and we’d like to see a strong RT MF for breaking them soon with conviction.
The worst-case stop at 52.02 has little odds for being hit before a MF signal change.
The IWM robot remains in a fail-safe cash status.
Billy
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