I recently had Chris Kimble on the show because I think he is very good at presenting charts in a straight forward manner. The post below is another example of Chris’s work and in this post he is focused on the GDX.
We have been talking about the sell off in metals and the metals stocks and how the charts are now in oversold territory. We are due for a bounce and Chis is on the same page. Have a read of his post below and click the link to visit his website. Just signing up for his free emails is worth your time. Chris will not clog up your inbox everyday which is nice.
Click here to visit Chris’s website.
Junior Miner ETF has had a rough go of it the past 90- days. Could that large decline, present an opportunity? Below looks at the performance of GDXJ over 90-day windows since inception.
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GDXJ has fallen nearly 25% over the past 90-days. When GDXJ has been down this hard in a 90-day window, in during a bear market, it was closer to a short-term low than a high. Below looks at the chart pattern of GDXJ and the GDXJ/GDX ratio.
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Joe Friday Just The Facts- The large decline and the two charts directly above reflect that GDXJ was presenting a entry point, where a really should take place.
Both of these charts were shared on Wednesday with Premium and Metals members. We would be honored to have you as a member, if these type of patterns are of interest to you.