Today GDXJ has closed just above the bottom of the Bollinger Band, unlike yesterday. Really need to grab the midline soon to continue the up trend (December reversal). GDXJ still forming higher lows, although JNUG is not.
Also note the support trend lines that intersected yesterday at the closing price. Today GDXJ found support on both of these lines (blue), as well as the 50DMA (green), and the bottom of the BB. Would be nice to see some buying volume very soon.
50DMA looks to be crossing up the 100DMA this week, and March could see a cross up of 50DMA and 100DMA with the 200DMA. We need the GDXJ picture to improve a lot, and soon, for the mining products to break out. Hopefully the epic 2/27/17 breakdown was a setup for this.
Also note the support trend lines that intersected yesterday at the closing price. Today GDXJ found support on both of these lines (blue), as well as the 50DMA (green), and the bottom of the BB. Would be nice to see some buying volume very soon.
50DMA looks to be crossing up the 100DMA this week, and March could see a cross up of 50DMA and 100DMA with the 200DMA. We need the GDXJ picture to improve a lot, and soon, for the mining products to break out. Hopefully the epic 2/27/17 breakdown was a setup for this.
