GDX: CANDLES SPEAK: 25.02.2021

I wanted to highlight a very concerning structure that is being developed and could possibly complete tomorrow if GDX closes the week and the month below 31.22.
The Head & Shoulders formation is clearly visible on the weekly chart above. If completed on February 26, I would expect a possible gap down on March 1, followed by a multi-week decline to the H&S target of 16.54. That would be in alignment with my long term forecast of 12-14 that I have been talking about since the end of October 2020.

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