ETF Trade Ideas

VanEck Junior Gold Miners ETF forms bullish "Engulfing Line" chart pattern
Nov 14, 2018

Trading Central has detected an "Engulfing Line (Bullish)" chart pattern formed on VanEck Junior Gold Miners ETF (GDXJ:NYSE). This bullish signal indicates that the stock price may rise from the close of $26.64.

Tells Me: The recent downtrend is due to reverse, now that buying pressure has overwhelmed prior selling pressure.

Following a clear downtrend, we see two candlesticks where the white real body of the second completely envelops the black real body of the first, showing that the bulls have taken over from the bears.

This bullish pattern can be seen on the following chart and was detected by Trading Central proprietary pattern recognition technology.

Price Chart - VanEck Junior Gold Miners ETF
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