The Gold Miners ETF is staggering its way toward the 22.57 target shown, but if we get lucky we could get aboard belatedly with a pullback to 22.57, the green line. That would trip a mechanical buy signal, but the 2.57 target will remain viable in any event, so long as GDX does not drop below the pattern’s 19.90 point ‘C’ low. As always, an easy move past D=22.57 would portend still higher prices (which is what we should expect here). Be prepared for the by-now-obligatory pullback from p2 (21.90), but the impediment should be short-lived. Looking at a bigger picture, a 23.31 print would turn the daily chart robustly impulsive, and a move touching 24.87 would send the bear into hibernation.
