GDX Update

Last week we entered some GDX 8/8 $27.50 calls, Trade Idea (Speculative Very Short Term) GDX Calls , as it says, on a speculative basis as the signals in Gold miners have been hard to get god confirmation which makes sense looking back on the trading character over the same period.

However it looked like GDX would see at least a short term move up, the longer term has been difficult as we had expected a pullback some time ago, but assets can consolidate through price (pullback) or through time, but for now this is what we had in front of us.

GDX just took off intraday on a pretty decent move or start.

 GDX 1 min since Friday's odd close.

GDX this afternoon...

The 3 min chart's trend has remained ...

 as the 5 min chart has looked even better moving forward since noon yesterday and especially today.

This divergence goes out to a shallow 15 min which is why I prefer an asset with some leverage, for a NUGT long trade I'd like to see a stronger looking 15 min chart that can support a larger move to the upside.