$GDX = Daily Analysis = 07.09.2021 #gold #GLD #GDX #preciousmetals #investing #trading $gold #miners

Today was, undoubtedly, the most entertaining closure of GDX from the candles perspective. Let’s explore the hypothesis from the different time frames and different angles.

CANDLES

Monthly
The August candle was a standard bearish continuation candle that managed to close below July low and below 20m EMA line. The lower wick was not long enough to consider it a bullish reversal candle, however, it might cause higher prices at the beginning of September.
The majority of indicators still point down. If GDX in September closes above $35, this would be bullish (very low odds at this point). Every other closure would be bearish.
Odds: Bearish


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