GDX, daily
Summary
Not surprisingly, precious metals are seeing renewed downside.. with a new multi-week down cycle now underway. The miners are thus naturally following... and GDX looks set to fall into the spring, if not across the summer.
There remains high possibility that GDX could be cut in half across the next six months or so.
Most bearish outlook remains...
GDX, weekly
Regardless of any further broader market strength, if the precious metals continue to weaken, then the miners will no doubt follow.
