Net April gains

The gold miner ETF of GDX ended the month on a weak note, -2.0% at $22.28, but that still resulted in a net monthly gain of +1.3%. Near term outlook is offering further broad chop. Things turn decisive if Gold >$1400, which would offer hyper upside in GDX to $50 by mid 2019.


GDX monthly

GDX daily

Summary

Suffice to add, a bearish end to the month, but the miners did manage a sig' net monthly gain. More broadly, its all been chop since early 2017. An eventual upside break appears very probable.
--

The two biggest components of GDX are NEM and ABX

Newmont Mining, monthly

Newmont saw the fifth net monthly gain of the past six months, is technically m/t bullish, with soft target of the 45s, and secondary of 52/53s.
--

Barrick Gold, monthly

A second consecutive monthly gain for Barrick Gold, but still technically m/t bearish, and that only changes if >16.00 from May 1st onward.
-
Both stocks have seen recent good earnings. NEM is technically superior, but both look fine for the mid term. 

Miners cooling with gold

With Gold settling moderately lower for the week, the related miners followed. The gold miner ETF of GDX settled the week on a significantly negative note, -1.5% at $22.71, resulting in a net weekly decline of -0.8%. Near term outlook is offering renewed upside. Things turn decisive if Gold >$1400, which would offer hyper upside in GDX to $50 by mid 2019.


GDX weekly

GDX daily

Summary

Suffice to add... short term a little mixed, not least as Gold is yet to break above the decisive $1400 threshold. Most favoured miners: Newmont Mining (NEM), and Barrick Gold (ABX).