Thursday, 13 August 2015

GDX - miners digging lower

With precious metals back on the slide, the related mining stocks saw rather severe weakness. The miner ETF of GDX settled -5.7% @ $14.64. Near term outlook is bearish, with new historic lows <$13 due within the next month or two... not least if USD breaks above the DXY 100 threshold.

GDX, daily

GDX, monthly


Little to add.

Suffice to say.. gap zone on the GDX - daily cycle, filled....  back on the slide... new lows look due.