Chartlogy: Gold Miners (GDX) in Make or Break Retest Zone

Stock ChartsThe Gold Miners index (GDX) may be retesting recent lows with a stealth, low volume retest. Important support levels to watch are the .618 fibonacci retrace level at 42.76 (most important), and the .764 fibonacci retrace level at 41.36 (which is also the 50% retrace mark of the 2008-2011 run — see weekly chart below.
Gold Miners graphic

 

gold prices

Gold Miners (GDX) stock charts with support and resistance levels as of June 28, 2012.  Important Fibonacci retrace levels.  Gold miners index stock ticker GDX. 

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No position in any of the securities mentioned at the time of publication.

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