Friday, January 22, 2016

[GDXJ] update

In the backlink I was modeling another wave down as the primary path.



Actual is close but not exact.  It looks like miners could see more pressure before the big reversal begins but as per oil, I think it bottoms at or before the end of January and then a big march upward begins that will shock people in its strength.  We'd probably already be done with the collapse were it not for the false breakout above the green resistance line.  The subsequent fall below same line was a clear sell signal, especially with the red 2 backtest.

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