Direxion Daily Gold Miners Be (DUST)

[str8_chuter]

GDX closed well below mid-range of today's trading. Further downside ahead.

Sub 22.50 next week likely. Perhaps fill the gap at 22.27.

BTW, there is another gap at 21.27. Doubt it fills next week but give it time.

The $GOLD chart is just catching down to other commodities, many of which are in crushing bear markets. Just pull up most any agricultural chart and you will see. Try $CORN or $WHEAT, both down about a third in the last several months. In energy, try $NATGAS which is down 40% from the high in February. Or for global trade, try $BDI. That last one is down over 50% YTD and headed a whole lot lower.

This is what global deflation looks like.