GDX update 08/03

GDX weekly chart starting to look good for an important low here at the 61.8-76.4% retrace (red box). It can still drop to the black 76.4% retrace at $19, which is about the 78.6% retrace for red-a, but it’s not necessary. Price is now very oversold, but no reversal yet. Patiently waiting to see that happen albeit the consolidation (soon 2 years!) has taken a lot longer than most expected me included.

GDX weekly