Technical Targets for Junior Gold Miners (GDXJ)
GDXJ has measured targets of $36.50 and $39.00. The first target was hit yesterday.
Will GDXJ reach $39.00 or will it backtrack to previous resistance at $32.00? In any case, know your plan. If GDXJ snapsback to $32.00 to retest the breakout then that would be an opportune time to add to positions, especially if you failed to do so in the summer. If GDXJ continues to soar, then one could reduce their risk by taking some gains at the target of $39.00.
We cannot predict the future, but we can assess possibilities and probabilities. From that we can formulate a strategy to take advantage of whatever occurs.