GDX: CANDLES SPEAK: 22.03.2021

Today’s candle traded and closed within the body of the last large green candle again. And
I don’t believe that the rejection at the daily 50 MA for four days in a row is just a coincidence – marked with the red rectangle. The candles are trying to warn about something as the bearish pressure on the monthly and weekly becomes unsurmountable as we are getting closer to the end of month.

Nothing has changed in my weekly outlook that I posted a few days ago:

I believe that the next move should be down. The questions are about the exact timing and the depth.

The week is still young.

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