The gold miner ETF of GDX was powerfully lower in September, -$10.71 (10.9%) to $87.80.
GDX, monthly
Summary
A high of $101.71, but cooling back to settle in the
$87s. Monthly momentum ticked back lower, and remains marginally negative. S/t bearish with gold/silver, and the main market. H/S target 79/78s.
-
Four of the key miners...
Agnico Eagle Mines (AEM)
Agnico was powerfully lower, settling -$19.39 (9.6%) to
$183.27. Monthly momentum ticked back lower, and remains moderately negative. Vol' was a considerably lower 41M
--
Newmont (NEM)
Newmont saw a net September decline of +$10.46 (8.3%) to $115.34. Monthly momentum ticked back lower. Vol' was marginally lower at 144M
--
Barrick Mining (B)
Barrick Mining settled -$4.16 (9.3%) to $40.67. Momentum ticked back lower, and is due to turn negative as of Oct'1st. Vol' declined to 180M
--
Pan American Silver (PAAS)
Pan American Silver saw a net September decline of -$6.41 (12.3%) to
$45.51. Momentum has turned negative. Next big support is
around $35.Volume declined to 72M
--
Of
the four, yours truly favours Newmont. The cautious will arguably be on
the sidelines, and hoping for a main market washout before the
midterms, which would likely see the metals/miners cool back... if
briefly.
For more of the same... https://www.tradingsunset.com
