GDXJ: Jr. miners have bottomed - upside to shy of $70 possible

11 ott 2018

GDXJ is an exchange traded fund which lets investors gain exposure to a basket of gold and silver mining companies, which can be a very interesting vehicle to benefit from major moves in precious metals. In this case, we see that the daily chart is likely to start trending sharply up from here, with a chance of breaking above the long term resistance zone above, in which case, prices could surge close to $70 over time. We're long from today, entered a 9.5% position at $28.15, shortly after the market opened.
We may add to it on dips, if prices retrace back into today's range next week.

Best of luck if following me here.
Cheers,

Ivan Labrie.