The Richard Wyckoff logic applied to GDXJ (below) suggest the demand and supply accumulation phases are set up for higher prices over the next 6 months. Note the minor pullback (LS = Last point of Supply) fails to break down into prior prices, this suggest strong demand is present. Also note the terminal shake out (or stop busting run, COVID spike) has allowed the informed to rid the weak hands out of long positions.
NOTE: This chart is via RTT PLUS membership, from the RTT Wyckoff Campaign (RTT WC) watch section.
The longer time frame BLUE cycle suggest the gold stocks index (!XAU) is near a major peak, but not yet (RED cycle) and there is a window over the next 6 months for higher prices.
This video cover more readtheticker.com chart studies on the GDXJ.
Original Post: https://ift.tt/2QR46P7
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