Is this a drift into resistance or a continuation move?  Underlying gaps and low volume have made this week a little unnerving, but it appears volume is coming in and upside targets  will get hit first.


A look at the underlying in the GDX would suggest we are moving to upside targets a bit higher.

RGLD - has been firming nicely and is a clear breakout from the inverted h/s we've seen over the past few  weeks. (right click ' view image ' for bigger chart view) .


NUGT - Big volume coming in on shouldering breakout move


NEM - Weak resistance here, but we expect this move to go to the neckline ... volume also picking up here.  An easy stop for even a short duration long trade would be halfway to 2/3 down today's candle (3/21/13) . Today's little gap and even back to last Monday is eventually an area that will have to be retouched, we would expect.  Enjoy the lift for now

TGD - Wild manipulation continues here, with 40% upside whipsaw nearing target around $2.99 gap.

Be wary of a quick shot back to $2.55 to further vex longs.  Throw some trading gains in the drawer for gold $3000 or lose sanity on the next wave down as gold fills recent gaps.