Gold candles have alerted three times – two Bearish Engulfing combos on daily and one on weekly – the colored ovals on the chart. If gold closes tomorrow below 1883, the daily downtrend would be confirmed. If the week closes below 1855, buckle up for a strong downtrend for multiple weeks/months.
$GDX is no better (chart below). If it closes Friday below 38.01, the weekly downtrend would be confirmed. Today it closed at 38.00! We will see if it recovers in the next two days.
I hope I am deeply mistaken.
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