GDXJ – Junior Gold Miner ETF (Last:46.35)

Bulls will face a crucial test at 49.02, the Hidden Pivot midpoint resistance shown in the chart. It is congruent with my outlook for gold and silver futures, which although sunny is not limitless. The target seems certain to be achieved, and your trading bias should therefore be aggressively bullish in the interim.  This means naked-shorting puts is okay, provided you understand the risks and your account can handle it.  Scalping against the trend would be warranted if p=49.02 is hit at the same time gold and silver futures reach their respective targets.