Junior Gold Miners ETF at Resistance

The Junior Gold Miners ETF (GDXJ) has popped above key resistance at 19.50/55 to hit an intraday high at 19.80. However, so far it has not been able to sustain the strength as we see the price structure has returned to test the upside breakout plateau.

Inability to hold in and around 19.50 likely will trigger a press into the 19.00 next support area prior to my expectation of a pivot reversal that initiates a new up-leg.

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