The GDXJ moved higher, so it could be the case that you’re wondering if anything changes as far as the outlook is concerned. In short, it doesn’t, as the GDXJ just moved to its very short-term, rising resistance line without breaking above it.

No breakout (in particular, no confirmed (!) breakout) means that nothing really changed.

The USD Index is moving lower today, BUT it’s doing so after already invalidating the previous breakdown. This is another attempt, and just like the previous one was just invalidated, this one is likely to be invalidated, too. Please keep in mind that rising, long-term support line that I outlined in today’s regular Gold Trading Alert – it’s likely to trigger a big rally regardless of today’s small move lower.

Consequently, the outlook that I described in today’s Gold Trading Alert, yesterday’s issue, and on Friday’s issue, remains very much up-to-date.

As always, we’ll keep you - our subscribers - informed.

Thank you.

Sincerely,
Przemyslaw K. Radomski, CFA
Founder, Editor-in-chief