-GDX- Prices are overbought, at multiple resistance levels and reversing. The conventional signs point to a top. If confirmed, I’ll expect a decline to fresh lows and a sustainable bottom in early 2019.
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-GDXJ- This should end the ABC flat correction. If true, then I’ll expect better prices early next year.
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Markets have been finicky. Just when something seems like a sure thing – it reverses. So it’s important not to get too carried away. Like the weather, it can change in an instant. Nevertheless, I’m net-short again.
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