Closing tightly in against the 1yr Ma tends to be followed by price opening above the 1yr Ma, which will inevitably open next week outside the descending channel and could be ultimately very positive for the precious metals
Descending channel from GDX inception, and an ascending channel from the lows in 2016. GDX has had a strong close into the end of the week, we may see a breakout that will blow our socks off, or we may be left bagholding..
I will be monitoring this very closely as it seems it is all to play for...
Gold mining shares have not been this undervalued relative to the price of gold in 9 years! The price of gold has just recently broken out of a 6 year downtrend. Buying gold miners at this low point in their valuation might be a good way to leverage the price of gold higher and maximise returns!