Ugly Day
For Gold and Gold stocks. GDXJ is down 5%+ today and for all gold juniors, it is a bloodbath. EDV is getting more of a thrashing relative to others.
I wonder if this is the capitulation that will mark the bottom in Gold or is it the start of the next down leg in Gold Price. Gold broke out of the last compression triange into a downward move which is very bearish.
Looking at EDV chart, I see support around .67 and .65. If breached, next supprt is around the .55 area.
Any thoughts ??