GDX Gold Miners Weekly Chart H&S

GDX weekly chart showing an H&S with neckline at 53 that failed last week. 63-ish head, and 53-ish neck targets a 43-ish area, we'll call it 42-43. Indicators remain weak except for the histogram that has not shown a lower low, yet. The daily chart is set up for positive divergence, and, considering how important the failure of that 53 support and neckline was, a back kiss would be in order. Note the open gap at 50-ish. Thus, a bounce up to back kiss the failed neck line at 53-54, then downside begins again targeting the 50 gap for starters, eventually leading to the 42-43 target. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your financial advisor before making any investment decision.