AMEX:GDX   VANECK VECTORS ETF TRUST GOLD MINERS ETF
The bottom in the precious metals has been forming since early 2016. As you can see from the chart of the ETF for the gold miners, GDX , it had a quick rally that year and then went into another sideways pattern until January 2019. Now the chart appears to be getting ready for a stronger up-move.

You can see that a long, bullish potential inverse “head and shoulder” pattern has formed.

A breakout in the near-term would mean that the early 2016 low was a false downside breakout on a major (longer-term) scale. Such breakouts usually have very strong moves in the opposite direction, in this case upward.

For more insights on Gold and our long-term forecast, get our free report "Why Gold Could rise for the Next 10 Years".
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