The Message From Gold Stocks

A breakout gap was created in the gold miners index on 11/4. This gap has acted as support three times since its formation. The first test of support, circled red, came on a surge in volume. This implied a retest of support after a short-term bounce. The subsequent retests, circled green, have come on a sharp contraction in volume. These tests suggest that the downside force within the trend is weakening. That which cannot break support with force will eventually reverse and attempt to break resistance with force. Those blinded by headline fear and doubt are certain to miss this message.

Gold Miners Index ETF(GDX):