Nice nine-month base and nine-month closing high. Everyone who bought the GDX since last August is holding a winner. It looks like it should be smooth sailing above $39.00, but this base now has to go up against...
...the overhead supply from the 2007-2008 H&S Top, so I'd expect some backing and filling in this price area, and above.
1 comment:
Concerning the H&S pattern going back to Oct '07,if the supply is worked off,what is the expectation of a time frame for this to occur and is it related to the time it took for the original pattern to form?
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