alice

NFTRH; GDX & GDXJ, Daily & Weekly Charts

Daily GDX has not broken down. I would not rule out a bounce to fill the gap above 28 and possibly test the SMA 50. It’s obviously a bearish look however. I’d continue to expect a good chance that we can fill the gap at 24 and/or test support to clean the sector.

gdx

The weekly chart shows thick support at that area, which includes the SMA 200 above.

gdx

GDXJ has not activated the gross looking pattern either and is at the first support level. I would not discount a bounce here as well.

gdxj

The weekly agrees that the rising SMA 200 above can be tested and possibly the gap below it can fill. 32 to 34 does offer thick support, however.

gdxj