Miners help up RIDICULOUSLY WELL in spite of Gold weakness! In fact, it only improved as the day went on. Gold down 14+ points on the day and GDX/NUGT close green.
Here's the hourly...look how it closed right back on the green support line. It also has now filled ALL gaps that were created within the NT pattern. As I stated earlier, today's candle patterns are eerily similar to 9/11.
And this...this...!!! I said on Friday there wasn't much lenience in this chart and it needed to bounce promptly. How does a gigantic, bullish engulfing pattern off of support sound?? :-D
Which in turn creates the same thing here...and a bullish candle exactly off of support and prevents negative EMA 4/8 cross too (it was negatively crossed at the open when price was at the lows).
EDIT: actually, just noticed, once this chart updates to the correct HOD and closing price of 18.71...it will have closed over both EMA 4/8 too.
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