Gold Miners ETF (GDX) Trading Chart
As I wrote about yesterday, the precious metals sector is breaking out with Gold and Silver futures headed higher.
And it looks like the Gold Miners are doing the same with a breakout buy signal.
The Gold Miners ETF (GDX) has rallied off its recent low and is breaking above downtrend resistance. See chart above for illustration.
I believe it has the potential for a +25% rally.
The setup is very bullish and equates to the pullback we had in mid-June of this year. As always, I’ll be using a stop.
The author has a position in the mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.