The Gold Miners ETF (GDX) is giving us signals of a short-term low in gold, as well.
- we can see that GDX is stabilizing at the strong green support trendline, as well as, the purple support trendline;
- both RSI and MACD have been diverging AND climbing over the past month of price declines;
- the declines in GDX from the Wave (X) high have been successive in threes, indicating that the decline is NOT impulsive but merely corrective.
Short-term target: Wave (b)?