is collapsing again. A rising stock market, soaring Dollar and lack of fear is continuing to put pressure on the metal. The Market Vectors Gold Miners ETF
(NYSEARCA:GDX) is into a key level here, the 200 moving average on the daily chart
. While this level may be good for a multi-day swing trade long, it is unlikely to be the final low of the mining index in the coming months. Simply put, a quick few day trade on the GDX
is likely to yield some profits but do not stick around long.
Chief Market Strategist