Melt-up

[Billy]

GDX is still outperforming for the week and may just be shaking out weak hands at the daily resistance downtrend line, helped by weakness in ABX and NEM which are hurting the MF.
It is stabilizing at the daily pivot after an intraday shakeout (by one cent) at the low of the day. I won’t be surprised to see a strong afternoon up move from here to or above daily VWAP.
Billy