Market Vectors Gold ETF (GDX) Last: 35.93

The stock is in an up move with a target price of 51.  Price hit PO2 at 45 and started a retracement down.  Price has found temporary support at P for this retracement down at 34.  For price on the daily chart to start a new move higher it would have to go through 38  and then P would be 41.  There is currently upside pressure being applied to price on the daily chart.

Dropping down to a 15 min chart you will see that price stopped just short of PO2=35.98.  There is about another 25cents left in the move on this chart.  There should be a retracement from the 36.30 level  Based upon the current high if price hits 35.50 look for support at 35.20.  Price should hold above the previous low of 34.18.