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Gold Miners Looking to Confirm the Bullish Breakout

Long
AMEX:GDX   VANECK VECTORS ETF TRUST GOLD MINERS ETF
GDX has broken out of multi-year triangle that formed a solid base since 2015. If gold continues marching towards all time highs, I think GDX can hold the breakout here. Perhaps it will cool off for a couple weeks after the rapid rise, but then I'm looking for the move to low $40's on the way to $60+

Positions:
GDX 1/15/21 40c
GDX shares

Reassess if falls back into the triangle (convincingly <$30)

Comments

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