Let’s check the technical situation on the GDXJ’s chart, which serves as a proxy for junior mining stocks. We’re focusing on them, as mining stocks often lead gold and silver prices, so by addressing miners, we can be earlier with regard to indications for the gold market.
This is the second verification of the breakdown below the August lows. The first one that we saw in late September was quickly followed by more declines. This might happen here as well. Back then, we also saw such a move lower in RSI, and it was actually the pause before the final run-up in the USDX before a bigger correction followed.
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