GDXJ’s long-term chart differs enough from gold’s to allow a more creative approach to targeting this correction. I’ve masked the A & B coordinates for proprietary reasons, but they indicate a possible further fall to 112.09 before this vehicle can turn around. That Hidden Pivot can serve as a minimum downside projection because of the decisive way the downtrend penetrated p=132.17 on Friday. Any bottom fishing there should use a ‘camo’ trigger derived from a chart of 60-minute degree or less.
GDXJ – Junior Gold Miner ETF (Last:124.09)
