GDX Update

GDX is the first PM stock index to reach it’s first important resistance zone at the bottom blue rail of the 5 point bearish falling wedge. A pause to refresh right here should be expected. With the US dollar breaking down from it’s top formation the odds are very good that the precious metals stock indexes should take out both of the overhead resistance rail on the 5 point bearish falling wedge. A close above the top blue rail will be a big deal when it happens. We are also closing the gap that was made on the open this morning.