Friday, June 17, 2016

Gold Miners (GDX) Goin' For A Break

I haven't made the best calls with Gold Miners (GDX) but recently an ascending bearish wedge I identified was hit perfectly yesterday on the lower support line. Sell signals have also appeared on the daily and weekly of the RSI(5) indicator. As always I expect GDX to climb a bit higher before finally coming down, probably to around $23.50 to $24.00.