The precious metals complex has been bullish for a few weeks now. And the Gold Miners ETF (GDX) has had a buy signal for nearly two weeks.
And GDX appears to be accelerating higher again.
Note the chart below – we can see the trading up-trend line. Money flow and momentum are improving.
We have a $35 price target on the Gold Miners ETF. Only a decisive move below the up-trend line would negate this buy signal.
$GDX Gold Miners ETF Chart
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.
