GDX: two alternative scenarios for the coming weeks.

Tracking two alternative scenarios for the coming weeks.

But as long as price remains below the November highs, the preferred expectation is for one more leg down to re-test the November lows, and ideally a deeper move toward the 64 support zone.

If price manages to break out above the November highs, I would still prefer to see additional consolidation and a proper handle formation to complete the base before considering the move a more sustainable breakout.

Chart:

https://www.tradingview.com/x/TsNDpMQR/