GOLD miners are in pullback - GOLD will follow them tomorrow.
GDX ( Market Vectors Gold Miners) printed a shooting star yesterday.
Today we had a decline in most of the gold miners and NUGT.
Tomorrow while the stock markets are bouncing gold also could start its decline into the daily cycle low.
GDX target : at least the FIBO 38,2% (15.8)
Maybe we can come down to FIBO 50% (15.15)
If we are in the GOLD bull market we shouldn't come below FIBO 61.8% (14.50) during this pullback.
Today we had a decline in most of the gold miners and NUGT.
Tomorrow while the stock markets are bouncing gold also could start its decline into the daily cycle low.
GDX target : at least the FIBO 38,2% (15.8)
Maybe we can come down to FIBO 50% (15.15)
If we are in the GOLD bull market we shouldn't come below FIBO 61.8% (14.50) during this pullback.