Chart of The Day: GDXJ is Nearing a Big Break Out
There are many theories regarding what market that actually leads in a precious bull market. Some say the miners. If it is the junior miners (GDXJ), which is considered riskier than the metals as well as its big brother GDX, then we should be very interested in what the next day or two will bring:
GDXJ (Daily) – Big consolidation patterns in price as well as indicators!
- Nearing the end of a long time wedge formation (Notice how tight the range is when nearing the tip).
- RSI is close to a bullish break out.
- Accum/Distr-line which is a new tool to me is also nearing a bullish break out from consolidation.
