Tuesday, September 25, 2012

Continued selling pressure on the GDX

The selling pressures on the GDX continues to accelerate. In fact, one more day like today and the candlestick pattern will have formed a three black crows pattern, a very bearish formation that suggests a reversal in the price trend. That said, the selling volume in the last two days is still not strong enough to counter the 32 million shares on the 9/13 uptrend, which we are now pushing in to.


No comments:

Post a Comment