It looks like gold has broken lower out of the small triangle consolidation. However, we are yet to see an accelerated decline. That may occur if April gold slides below $1320.
-GDX- Not a lot of upside follow-through after yesterday’s bullish reversal attempt. Slipping below $22.36 could trigger another wave of selling, especially if gold breaks below $1320. Miners would have to finish above $22.85 or better to stave off a potential breakdown.