where are you thinking the buying support might come in?
UnknownUnicorn540299
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@dsankie21, 34.7. At latest is my personal opinion.
lantao517
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@viking83, $34.24 is the starting point of impulsive breakout move in 28/Aug, 3.4% lower from current price.
if 34.24 support valid and re-test successful, then 2nd and stronger impuslvie wave there be
if 34.24 fail in re-test, then such a false breakout is super killing, even impulsive breakout could be also false and telling lie
how do you think about it
lantao517
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@viking83, Hi, seems like gold is heading for challenge situation in short term, especially when USDJPY surprisely heading toward upward style again... what a volatile market...
hope late August GDX breakout is a valid breakout
UnknownUnicorn540299
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@lantao517, Indeed. I am not concerned although unless UJ closes above 111.6 on Daily TF for now.
lantao517
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@viking83, UJ might touch 111.6 and even 112, RSI is still at 61, not overbought yet, so I think the strength may continue....
lantao517
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@viking83, and GDX & GDXJ are both just 2% above their late August breakout level, do you still believe the late Agugust breakout level is valid?
lantao517
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good call, time tell, your buy-on-dip area is just so accurate
lantao517
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Hi, GDX is near the support of 60DMA and 200DMA, if it break down to that area things will change dramatically, what a bull trap it was in late August...... seems like last breakout was a invalid and bull trap at all