If the Gold Miners ETF can clear a pair of hidden pivots at 45.69 and 45.78, it should be on its way to a ‘D’ target of 47.68. We’ll use a print at 45.83 as our benchmark for GDX surpassing the higher of the two pivots. Anyone shorting the vehicle (and we know it happens, don’t we?) should cover if 45.83 is reached. If our 47.68 target is achieved, GDX will have taken out some important prior highs on the daily chart and will be showing some convincing strength. (Posted by Doug “harry” McLagan)
