Technician
Long

Gold Miners(GDX): Probably A long term Opportunity (Update)

AMEX:GDX   VANECK VECTORS GOLD MINERS ETF
814 4 14
In my previous analysis I was expecting a bullish rebound in the Gold             Miners ETF , indeed the price reached my first target, the bullish rebound process is unfolding bullishly, what i mean is a new bullish technical setup has developed in the form of an inverted head and shoulders pattern. Meantime, the price has broken the 52-week Long term moving average, and the neckline of the inverse head and shoulders pattern. Momentum and Money Flow Index has shown a strong long term bullish divergence .

Having these signals, I remain bullish on GDX             and would invest in the miners over the medium to long term, targeting mainly the descending resistance and 39.00 level. Only a break below the right shoulder of the pattern at 22.00 would force me to abandon my bullish view.

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If FED will announce cut its monthly bond-buying program by another $10 billion today as expected. GOLD price should go up? Or should go down?
Just an opposite view:


Today I think it will be clear :-)
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hi,Simple but rich and interesting, Many Thanks .
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Thank you :)
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Very nice. Also, for what it's worth, this coincides nicely with seasonal gold run.
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