Tuesday, August 13, 2013

GDX ~ 13 August 2013

Miners have performed even worse than gold during the last few months. Between September 2012 and June 2013 the GDX lost 60 % of its value:

A few days ago the GDX made a higher low indicating that the sell-off might be over.

The next important resistance is at 30-31. A break of this level should lead to a rally to 40.