GDX - Gold Stocks picking up steam
AMEX:GDX VanEck Gold Miners ETF
GDX is attempting to break north of the channel/flag today. We need to see if it holds in the next couple of days - if it does will likely add to existing precious metals/pm stocks/long positions. Large caps will lead small caps so GDXJ will be the place to be.. This has the potential to be the beginning of a large move higher..
GDX has broken through the flag. We now need to see GDX hold above the flag (resistance becomes support). This requires XAUUSD to move towards and then break through 1800. Cautiously bullish here but we need confirmation from XAU and XAG - patience is required - there will be plenty of higher probability upside but caution still warranted..