$GDX = Weekly Analysis = 19.12.2021 #gold #GLD #GDX #preciousmetals #investing #trading $gold #miners

GDX made a remarkable bullish Engulfing candle on the 3-day chart and the real question is whether this move formed a bottom or it was just a pause before the miner goes lower. This and other questions are answered in our Weekly Analysis that covers the perspectives of Candlesticks, TA and #ElliottWaves.

This monthly/weekly overview contains:
– daily/weekly/monthly candle charts and analysis;
– daily EW chart and mid-term projection;
– monthly EW chart and long-term perspectives;
– forecast for the next week.

GDX formed a very strong bullish candle on the 3-day chart and we should see higher prices for at least another 3 days.
Note that the price is currently below 8 EMA and a strong move upwards is required to overcome the resistance at 8 and 20 EMA.
The actual closure on Wednesday would likely define a short- and mid-term direction for the stock.
Odds: Bullish

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This analysis is part of the series of Weekly Analyses that our service provides on:
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