The gold miner ETF of GDX saw a
net September decline of -$3.13 (9.6%) to $29.47. Multi-month price
structure is an increasing mess, with the sector massively lagging the
main market.
GDX, monthly
Summary
September saw the miners break a new multi month low of $28.83. Ongoing short and mid term price action is a bearish leaning mess. Things only turn s/t interesting above the $37s. I
would note the 10MA at $33.89. Things turn decisive with a monthly
settlement above psy' $40. With just three months left of the year, that looks a stretch.
--
For more of the same...
