With last week’s surge, bulls left a daunting midpoint resistance in the dust, putting GDXJ on track for a move to at least p2=60.62, and thence to D=72.73, a potential bull-market top. Between here and p2 lie a couple of prior peaks that could slow the ascent, and a voodoo number that capped Friday’s exuberance. The weekly chart suggests that a retracement of 2.59 points would provide a low-risk opportunity to augment long positions with risk tightly controlled.
GDXJ – Junior Gold Miner ETF (Last:53.87)
