Monday 21 April 2014

GDX - miners on the slide

With weak precious metal prices - and a merger unravelling (Barrick/Newmont), the miners started the week on a weak note. The miner ETF of GDX, started the week with declines of -0.25% @ $23.51. Near term outlook is bearish.


GDX, daily


Summary

The near term outlook is indeed weak, and the only issue is when..not if, the 2013 low is going to be taken out.