Gold Miners (GDX) Look Ready To Move Higher

Gold prices are pushing higher as as the war in Ukraine takes centerstage.

And as gold prices move higher, it only adds fuel to the gold-engrained equities like the Gold Miners (GDX).

Looking at the chart below, it looks as if Gold is emerging from a basing pattern.

Our next level higher (MFU-2 target) is up at 38.50-39.00. If hit, this would produce a nice trading gain.

$GDX Gold Miners ETF Chart

gdx gold miners etf trading breakout higher chart march 2

Twitter: @GuyCerundolo

The author or his firm have a position in 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.

Sign up for our FREE newsletter
and receive our best trading ideas and research