Tuesday, May 31, 2016

Gold Miners (GDX): Well This Is An Interesting Development

I recently noticed this little gem while changing my charts over to non-logarithmic scaling. Gold Miners (GDX) have put in a little bullish declining wedge with a long/buy signal appearing on the RSI(5). Don't for one second think this means things are turning around for gold but rather that this is a small blip in an otherwise downward trajectory.