GDX Gold Miners Weekly Chart H&S Sideways Symmetrical Triangle

Price and the indicators favor the sideways to sideways lower path ahead. The 20 MA is under the 50 MA which is bearish. Price is under the 20 MA is under the 50 MA which is bearish. RSI, stochastics and money flow are all under the 50% level, bearish. Volume participation now is lower than when GDX was at higher prices late last summer, bearish.

The blue H&S remains in place so if price fails the neckline at 52, the price target is 38. GDX bears want to see price go down to rupture the neckline at 52 now. GDX bulls want to see price move back above the 20 MA to reestablish buoyancy. If price cannot move back above the 20 MA, GDX is in trouble. A neckline failure at 52 will usher in significant weakness.  Projection, however, is for price to move sideways to sideways lower for the months ahead. Note that price is making a decision now on how to exit the pink sideways triangle. 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 de