$GDX VanEck Gold Miners ETF “daily” Chart
One of our top technical ideas here is the VanEck Gold Miners ETF NYSEARCA: GDX.
The Gold Miners (GDX) closed on Friday at $33.55 and is trading above the rising 50, 100 and 200-day moving averages, indicating an uptrend on multiple time frames.
Our daily momentum readings are turning up, after it’s recent 16% consolidation from 7-year highs and GDX reclaimed the 20 & 50-day moving averages on Friday.
GDX is holding above $31, which is a key multi-year breakout level as well.
Shorter-term traders would use just below $31 as a near-term stop and position traders and investors just under $28.50.
On any follow through, we are looking for a new high here.
Larry is the publisher of the Blue Chip Daily Trend Report.
Twitter: @LMT978
The author may 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.
