Friday, 16 March 2018

GDX - broadly choppy

The gold miner ETF of GDX settled the week on a fractionally weak note, -0.1% at $21.43, resulting in a net weekly decline of -0.6%. Near term outlook is offering renewed upside. Things turn decisive if Gold >$1400, which would offer hyper upside in GDX to $50 by mid 2019.

GDX weekly

GDX daily


Suffice to add... choppy with gold and silver. The bold could buy with a stop at the recent low from the support zone. The more cautious will leave well alone until Gold >$1400 and/or GDX >26s.