Today I will watch to see if the 4 EMA can cross over the 8 EMA on volume on the daily GDX chart. Currently the 4 EMA is $.01 shy of crossing over the 8 EMA. Yesterday we closed above both, which is usually bullish. I will watch to see if GDX can rally to the 21 SMA now at $21.89. The 21 sma will probably act as the first level of resistance. GDX could see a pullback to 21.18 this morning before moving higher.

/GC is still weak this morning as the IAU close under the $11.29 print indicated that gold would be weak this morning. GDX is slightly positive this morning in the pre-market trading hours as the minor bull flag on the 5-min close yesterday indicated.