As GDX approaches the Overbought level, it is interesting to note that the price surge in gold has attracted large sellers.

As of now, I will increase the GDX long position on pull-backs.

You will also note that the drop is USD has attracted buyers. Hence, Gold/USD are once again inversely linked.


Pascal

Name:  Goldf.gif
Views: 119
Size:  32.2 KB

Name:  GDX_RT.gif
Views: 118
Size:  32.4 KB

Name:  USD.gif
Views: 92
Size:  27.4 KB