GDX - miners remain choppy... and weak

With precious metals starting another Monday on a negative note, the miners were naturally weak across the day. The miner ETF of GDX settled lower by -2.4% @ $17.81. Near term outlook remains a challenge of the recent low of $16.34, with 15/14s viable by Feb/March.


GDX, daily

GDX, monthly

Summary

Little to add.

Metals remain broadly weak... and that continues to keep the mining stocks within a very broad downward trend that stretches back to 2011.
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If Gold $1000, GDX looks set for 15/14s.

If $900/875 in mid/late 2015, then GDX $12/10 zone.