GDXJ Junior Gold Miners Weekly Chart H&S

The juniors have not moved up to higher highs like GDX and instead prefer a head and shoulder pattern. Head at 42 and neck line at 32 targets 22. The 20 MA under the 50 MA is bearish. Note the high volume candle in August corresponding to 33-35 which price will want to retest. The green lines for stochastics and money flow are long and strong so they want to see price obtain another matching or higher high after a pull back occurs, so price will tend to play around in this right shoulder area for a little bit.

There is no compelling reason to own GDXJ. Price is expected to roll over moving forward, down to 35, then to test and fail the neckline at 32-33, and head lower. There is an open gap at 41 that would be satisfied by the needs of the stochastic and money flow green lines but if the CME starts to accelerate margin hikes, GDXJ will simply head lower in earnest. 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.