We previously managed a short-term Diamond pattern (decision pattern) that decided to break down hard prior to just as hard a recovery. The prospect of the Diamond was first introduced in this video update. But that is long since done now.
Today GDX may be forming a new pattern, a Symmetrical Triangle, which is normally a continuation pattern. In other words, a bullish pattern. A breakout above the top line that holds would likely set GDX back on its way to our target at the 40 (+/-) area. As yet it is within the Triangle and could spend a few more days in the nose of the pattern before deciding whether it will indeed continue.
man you are good!!!!
Actually, I am just a man who stares at charts (maybe a little too much). :-)