GDX

[Pascal]

GDX gave back already what it provided yesterday, leaving us with a general positive divergence in a "strong buy" environment.

In general, the long-term picture (3 months) shows that we have been in a consolidation mode since last November. There is a good support below us and the stop level gives us much room. There is also strong resistance above with the 50/200MA combination.

I will be adding to the long position when I see a positive intraday divergence being formed (MF dropping less than the price and showing sellers' temporary exhaustion)



Pascal