Once again a little lower priority in-day gold stock management.
GDX (15 min. chart) left an opening gap (up) this morning and then reversed to try to fill it. In not yet filling it and instead turning back upward there is a chance that it could wait until later to fill. But at whatever point his leg of the rally ends and a pullback comes about (which it will) let’s keep the GDX support area below 41 in mind as a potential testing ground (daily chart implies 38.50 to 39.50).
For reference, recall the April 11 update when we noted the gap we wanted filled because it also appeared on a daily chart, but were not concerned with the lower gap because it did not appear on a daily. Well, same situation here. The April 13 gap does not appear on a daily but this morning’s gap does. I’d rather see it filled today but if not, keep in in mind for later.