Just as everyone is fawning over Bitcoin and stocks at all-time highs, Gold has quietly made all-time highs. And, just as we wrote earlier this week, that may be a good thing for Gold bulls.
Today we turn our attention to the gold miners etf (GDX) and look at a “monthly” chart.
As you can see, the gold miners have been stuck inside a narrowing pattern for the past couple of years.
With gold making new all-time highs, it may be a matter of time before the gold miners stocks and etf (GDX) breakout.
And once a breakout takes place, a large move should follow! Stay tuned!
$GDX Gold Miners ETF “monthly” Chart
Note that KimbleCharting is offering a 2 week Free trial to See It Market readers. Just send me an email to services@kimblechartingsolutions.com for details to get set up.
Twitter: @KimbleCharting
The author may have a position in mentioned securities. 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.
