GDX- bullish equilibrium
Miners made a cycle low in 2015
They broke out with gold in 2019
But the cycle has been muted, whilst bullish (higher lows and highs) thus far
Things looks nicely balanced here
Most furus are labelling this last move on miners and gold a ded cat
Instead it looks to me like a return to equilibrium in a 7 year uptrend
Gold is also doing similar
This doesn’t look like a great short to me
If it can maintain this level the new high is on
GRI 2023
They broke out with gold in 2019
But the cycle has been muted, whilst bullish (higher lows and highs) thus far
Things looks nicely balanced here
Most furus are labelling this last move on miners and gold a ded cat
Instead it looks to me like a return to equilibrium in a 7 year uptrend
Gold is also doing similar
This doesn’t look like a great short to me
If it can maintain this level the new high is on
GRI 2023
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