I’ve flagged two rally targets that lie, respectively, at 72.23 and 111.59. The first is ‘guaranteed’ to be reached, but I cannot yet certify the higher target as a sure thing. However, GDXJ will be drawn more immediately to the 66.71 midpoint Hidden Pivot of the pattern shown (see inset). The likelihood of this increased with last week’s failure to reach the ‘d target of a minor bearish reverse (rABC) pattern. If buyers pop it through p=66.71 easily, this vehicle would be on track for a move up to 75.04, a tad better than the assured objective at 72.23.
GDXJ – Junior Gold Miner ETF (Last:64.32)
