A Hidden Pivot resistance at 56.01 became support in mere hours, suggesting that the bulls who have been pushing the Gold Miners ETF higher have bigger fish to fry. There are two peaks they’ll need to take on to establish dominance: 58.24 (January 12), and 59.09 (January 4). Rally targets immediately above are somewhat murky, but the nearest where I would look for a reaction lies at 56.91. The highest target that can be coaxed from the hourly chart is 57.71.
