The recent surge missed my 86.41 rally target by 1.64, but the chart leaves little doubt it will be reached eventually. As much is clear in the ease with which buyers penetrated the midpoint Hidden Pivot resistance at 75.16 the first time they encountered it. Now, if this vehicle should relapse sharply, touching p=75.16, that would trigger a ‘mechanical’ buy at the red line, stop 71.41. Failing that, it could still offer excellent tightly stopped bottom-fishing opportunities at either 81.47, or at 78.17 if any lower (60m, a= 70.53 on July 22).
GDXJ – Junior Gold Miner ETF (Last:82.68)
