Mining Stocks Getting Big Bounce Off of Bullish Wicks

01/16/2015 7:00 am EST

Focus: ETFS

Chris Kimble, of Kimble Charting Solutions, charts the bounce taking place off the bullish wicks as they breakout of bullish falling wedge patterns.

Metals Mining ETFs GDX and GDXJ both forming bullish falling wedges at falling channel support.

Both created bullish wicks at the lows.

chart
Click to Enlarge

Both are blasting out of these bullish patterns.

Full Disclosure...Metals members went long GDX as the bullish wicks were being created the middle of last month.

By Chris Kimble, Founder, Kimble Charting Solutions

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