Users: Danja Zown: GDX_Min.png
GDX is burnt to a crisp. Anything that spends this length of time riding the Keltner channel lines on the daily charts is way too hot to handle. Looking at my 30 minute chart divergences abound and a higher high has failed to go in. I'm in favor of a retracement to the 38.2% Fibonacci level at $16.50 as that happens to also be (again on the daily chart) the support line from our previous long-term downtrend. This is an intermediate top so please don't panic, but healthy ascents need to correct every-now-and-then (www.DanjaZown.com)
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