Gold Miners ETF: 60-min interval update
GDX is exhibiting very positive/bullish price action with a nice break-through above the $45 level, confirming the bullish developments in gold & silver...
My short-term target for GDX is around $49.60, which is the 50% retracement from $54.69 back on September 21, and also happens to be where the downtrending resistance line would intersect the price (see the GDX daily chart from yesterday's post).
GDX is exhibiting very positive/bullish price action with a nice break-through above the $45 level, confirming the bullish developments in gold & silver...
My short-term target for GDX is around $49.60, which is the 50% retracement from $54.69 back on September 21, and also happens to be where the downtrending resistance line would intersect the price (see the GDX daily chart from yesterday's post).
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