With precious metals under continued downward pressure from a rising dollar, the related mining stocks were naturally on the slide. The ETF of GDX settled lower by a very significant -5.7% @ $27.98. If rising trend is broken, there is open air to the 22/20 price cluster zone, where the 200dma will soon be lurking.
GDX, daily
GDX, monthly
Summary
The precious metals/miners have been trading broadly inverse to equities/capital market confidence, since the end of 2015.
If USD remains broadly strong, and if the metals continue to cool, then the miners are going to massively cool into the late summer.
