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TFC Commodity Trading Forum

Gold Stock ETF:GDX/ Haligonian *PIC*

Despite the nice bounce back today note the very 1st price resistance at $51 and the short downtrendline that are serving resistance. And with today's low volume and questionable reasons for trading with year end tax loss selling and re-positioning etc I am not yet comfortable with loading the boat on this ETF myself. And I normally do prefer to trade this market as a rule or the double Gold ETF:DGP. See the CCI 20 with the postive divergence showing while bouncing off the very oversold level but still can't clear the 0 line. So far "Resistance is still Resistance." And with no confirmation of a change in trend. Don't you just hate it when it does that,lol. I do....................One needs "PAY-SHUNTS" here I think. That's a medical term in trading............