GDX monthly
GDX, daily
Summary
A third consecutive net monthly gain, with GDX back above old support of the $21s. Its a 'curious' year end settlement, after what has mostly been a year of broad chop. Things would turn outright m/t bullish with any monthly settlement >25.00. That is still a considerable 19% higher.
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Lets take a look at two of the biggest miners...
Barrick Gold (ABX)
A fourth consecutive net monthly gain, settling right around the upper trend. Any price action above the December high of $14.11 would bode for psy'20, and key price threshold of $21.50s.
Special note: Barrick Gold will be relisted as of Wednesday Jan'2nd 2019, having merged with Randgold Resources (GOLD). To be clear, the new name/ticker will be: Barrick Gold (GOLD) on the NYSE, whilst on the Canadian exchange, the ticker will remain ABX.
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Newmont Mining (NEM)
A third consecutive month higher, settling just fractionally shy of the key 10MA. Note trend resistance in the $39s. Things turn decisive >40.00.
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The more cautious will wait to chase any of the miners until Gold has a break above the multi-year trading range of 1072/1392. To be decisive, >1400s.
