GDX - still trying to build a floor

With precious metals seeing significant monthly gains, the related mining stocks similarly followed. The ETF of GDX saw a net monthly gain of 3.8% @ $14.24. However, it is notable that GDX did break a new historic low of $12.40.


GDX, monthly

GDX, daily

Summary

To be clear... I still find it hard to believe Gold has seen a key multi-year floor - Dec'2015 @ $1045.40.

Instead, I'm still looking for another wave lower, at least to test the giant $1000 threshold, if not the 900/875 zone, which should be enough to capitulate the industry.. along with those remaining Gold bugs who still haven't sold.

If the metals do resume lower, then the miners will follow, and I'd imagine GDX will be vulnerable to <$10 by early summer.